Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
The payments industry in Australia: Status and future developments
Journal of Payments Strategy & Systems,
16
(2),
181-196
(2022)
Abstract
The payments ecosystem is experiencing accelerated change, with the COVID-19 pandemic acting as an additional catalyst. This paper looks at the example of Australia, where regulation has been reset to reflect, and future-proof its handling of, these changes. With a focus on regulation, and the modernisation of payments systems, this paper concentrates on what these changes mean for legacy payment systems, for the future of cash, and for their end users, especially in terms of their trust and confidence in payments.
Keywords: payments regulation; realtime payments; ISO 20022; open data; the future of cash; fraud; scams; digital identity
The full article is available to subscribers to the journal.
Author's Biography
Andy White is the Chief Executive Officer of Australian Payments Network (AusPayNet), the industry association and self-regulatory body for the Australian payments industry. Andy has over 25 years’ international experience, including roles at the Bank of England, LCH.Clearnet and the Australian Securities Exchange. He is a graduate of Oxford University and the Australian Institute of Company Directors. Andy also holds a variety of advisory and board roles, including with the Payment Card Industry and formerly with Australia’s Data Standards Body.
