Advanced Encryption Standard (AES) Migration

Australia’s card payments system post-quantum computing (PQC) ready

Background

In June 2023, the Australian Government released its Strategic Plan for Australia’s Payments System, which outlined the key priorities and supporting initiatives for Australia's payments system. One of the five key priorities is promoting a safe and resilient payments system that protects end-users and safeguards their ability to transact safely and securely. This includes ensuring the payments industry is well-placed to protect against cyber-attacks and requiring the industry to continually uplift system-wide security standards and practices, including encryption methods for card payments systems. The Plan called for the cards payment industry to begin migration to the Advanced Encryption Standard (AES) in 2025.

This process requires the design, development, and delivery of an industry-wide program to migrate the Australian card payments system from Triple Data Encryption Standard (TDES) to AES cryptography standards. The scope of this program includes:

• 55 issuers
• 25 acquirers
• domestic and international card schemes
• 970,000 payment terminals
• 25,200 ATMs. 

Neither physical cards nor digital wallets are impacted directly by this change. 

The role of AusPayNet

AusPayNet is leading an industry-wide program to migrate the Australian card payments system to the AES.

Australia is a leading jurisdiction in the global migration to the AES. The program is planned for completion in 2030/31, subject to any necessary regulatory approvals.

Program updates

Contact

If you have any questions in relation to our work on the AES Migration program, please contact the AES Migration Program Team.