The Reserve Bank of Australia (RBA) has published an Issues Paper seeking feedback on issues that should be prioritised to promote competition, efficiency and safety in payments as part of its Review into Payments System Regulation.

The Issues Paper covers merchant payment choice, competition between card payments and account-to-account payments, mobile wallets, buy now pay later, non-designated payment systems, and fraud prevention and cryptographic resilience.

The RBA expects to publish a set of regulatory priorities by the end of 2026.

The RBA intends to commence a public consultation process by mid-2027 on the prioritised issues and any proposed regulatory action to address those issues.

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Author: David Jacobson
Principal, Bright Corporate Law
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The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.