U.K.'s Wise to join the New Payments Platform in Australia

FILE PHOTO: A smartphone with the Wise logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration

SYDNEY (Reuters) - Digital money transfer group Wise Plc will join an Australian payments network which should allow transfers to be settled in the country faster and at lower cost, Chief Executive Officer Kristo Kaarmann said on Friday.

The company will become a direct participant and shareholder in Australia's New Payments Platform (NPP), Kaarmann said.