AusPayNet & AP+ launch public consultation on the future of account-to-account payments
MEDIA RELEASE
2 July 2025
AusPayNet and AP+ launch public consultation on the future of
account-to-account payments
Australian Payments Network (AusPayNet), the self-regulatory body for the payments industry, and Australian Payments Plus (AP+), the domestic payments provider, have today launched a public consultation to collect feedback from stakeholders and end-users on the future of account-to-account payments in Australia.
The RBA Risk Assessment on the decommissioning of the Bulk Electronic Clearing System (BECS) released in March 2025 highlighted the need to establish a clear vision for the future of account-to-account payments in Australia.
Account-to-account payment systems support a range of payment types including payroll, superannuation, welfare, dividends, disbursements, taxes, supplier payments and direct debits, amongst other consumer, business and government payments.
To help develop a future vision for these payments, this consultation aims to identify the current and future payment needs and expectations of the users of Australia’s account-to-account payments systems, including consumers, businesses, government, financial institutions, payment service providers, and other key stakeholder groups.
The Reserve Bank of Australia (RBA) and Commonwealth Treasury have indicated their support for this consultation. RBA Assistant Governor (Financial System) Brad Jones said: “The account-to-account system supports consumers, businesses and government agencies in their everyday economic activities. It is a vital part of Australia’s financial infrastructure.
“This consultation provides a broad range of stakeholders the chance to provide input into how the system can be modernised to meet the opportunities and challenges of the future, in the public interest.”
The responses to the consultation will help shape an industry plan for the account-to-account payments system, with high-level deliverables and milestones, including clear prioritisation and sequencing.
AusPayNet CEO Andy White said: “This consultation is an important step forward in designing a modern account-to-account payments ecosystem that meets the needs of its users well into the future. It is timely to gather feedback from the widest possible range of stakeholders and users to ensure that account-to-account payments continue to contribute to the vibrancy, productivity and resilience of Australia’s digital economy.”
“We’re excited to hear from users of the payments system and other industry participants as we work together to define the next chapter of Australia’s payments landscape,” said AP+ CEO Lynn Kraus. “The insights and feedback we gather will inform the industry’s strategic approach to account-to-account payments and ensure we’re addressing the priorities and needs of all stakeholders.”
The full consultation paper and more information can be found on both the AusPayNet website: www.auspaynet.com.au/insights/consultations/A2Avision and the AP+ website https://www.auspayplus.com.au/stakeholder-engagement/public-consultations.
Submissions to this consultation should be submitted by 5pm on Thursday 31 July 2025 to either AusPayNet via mailto:A2Avisionconsultation@auspaynet.com.au or AP+ via mailto:consultations@auspayplus.com.au.
[ENDS]
About AusPayNet
AusPayNet is the industry association and self-regulatory body for the Australian payments industry and currently has more than 160 members including financial institutions, payment system operators, major retailers and financial technology companies. We manage and develop regulations, procedures, policies and standards governing various payments clearing and settlement streams including the Bulk Electronic Clearing System (BECS) Framework. Its purpose is to create confidence in payments by setting enforceable industry standards for a safe, reliable and effective payments system; leading transformation in payments to drive efficiency, innovation and choice; and being the home for ecosystem collaboration and strategic insight.
As part of payments modernisation, AusPayNet is currently working with the industry to develop the strategy for the future of A2A payments in Australia, as well as leading work on the wind down of the cheques system, the migration of domestic and cross-border payments to the ISO 20022 messaging format, and the upgrade of the Australian card payments system’s security to the Advanced Encryption Standard. As a key participant in the National Anti-Scam Centre and through its own Economic Crime Forum, AusPayNet is also supporting the Government’s strategy to combat scams and online fraud. See https://www.auspaynet.com.au.
About Australian Payments Plus
Australian Payments Plus (www.auspayplus.com.au) brings together Australia’s domestic payment companies, BPAY Group, eftpos and NPP Australia to shape the future of payments for Australia. Working together benefits Australia’s consumers, businesses and government, creating opportunities above and beyond the needs of payments users of all kinds. We’re inspired by what’s possible today, and what could be possible beyond tomorrow.
AP+ shareholders include Adyen Australia Pty Limited, ANZ, ASL, Bank of Queensland Limited, Bendigo and Adelaide Bank Limited, CBA, Checkout.com Australia Pty Ltd, Citigroup Pty Limited, Coles Group Limited, Cuscal Limited, EFTEX Pty Limited, First Data Network Australia Limited trading as Fiserv, HSBC Bank Australia Limited, ING Bank (Australia) Limited, Indue Limited, Macquarie Bank Limited, NAB, PayPal, Norfina Limited (trading as Suncorp Bank) (formerly Suncorp Metway Limited), Tyro Payments Limited, WBC, Windcave Pty Limited, Wise Australia Pty Limited, Woolworths Group Limited and WorldPay. See https://www.auspayplus.com.au.
