pc
nid 92305
Apr 30, 2026
kgurnani@vixio.com
Australia
Reserve Bank of Australia
financial services
119% of draft length
draft in Generated
Generated
1820 charsAustralia's Account-to-Account Payments Roundtable Opens Public Consultation on Draft Vision
On 30 April 2026, the Account-to-Account Payments Roundtable released a public consultation on a draft vision for the future of account-to-account (A2A) payments in Australia. The Roundtable comprises the Australian Payments Network (AusPayNet), Australian Payments Plus (AP+), the Reserve Bank of Australia (RBA), and Commonwealth Treasury.
The draft vision outlines desired long-term outcomes for Australia's A2A payments system, including that it remains safe, reliable, low cost, easy to use, and inclusive for consumers, businesses, and government agencies. The vision defines the qualities the system must demonstrate to consistently deliver these outcomes. The A2A payments system supports millions of transactions daily, including wage payments, superannuation, welfare payments, bills, and transfers between individuals. The Roundtable developed the draft vision following extensive stakeholder engagement and drawing on a previous consultation on A2A payments undertaken by AusPayNet and AP+.
The consultation seeks feedback on how the A2A payments system should continue to develop to remain a trusted national asset meeting evolving user needs. Feedback will be used to refine and finalise the vision, which will subsequently inform the development of an industry roadmap involving prioritisation and sequencing of industry deliverables consistent with public interest considerations. The environment for A2A payments is changing rapidly, driven by technological advances, automation, and shifting societal preferences.
Submissions close on 22 May 2026 and should be submitted to A2Avisionconsultation@auspaynet.com.au. The full consultation paper is available at auspaynet.com.au and auspayplus.com.au. All submissions will be shared with all Roundtable members unless otherwise specified by respondents.
Agent draft
Not run yet.
Published
2166 charsAustralia's Account-to-Account Payments Roundtable Opens Public Consultation on Draft Vision of Account-to-Account Payments
On 30 April 2026, the Account-to-Account Payments Roundtable released a public consultation on a draft vision for the future of account-to-account (A2A) payments in Australia. The Roundtable comprises the Australian Payments Network (AusPayNet), Australian Payments Plus (AP+), the Reserve Bank of Australia (RBA), and Commonwealth Treasury.
1. End-User Objectives: The vision is centered on five outcomes users expect when sending or receiving payments:
Protections to keep money and information secure.
Dependable processing at the expected time to the correct recipient.
Affordable, competitive, and transparent pricing for core functions.
Intuitive processes that integrate smoothly into business and personal life.
Widely available with support for all users, including vulnerable groups.
2. System Characteristics: To meet these objectives, the payment system must demonstrate six key qualities:
Robust risk-based safeguards and fraud intelligence sharing.
Minimal service disruptions with clear contingency plans for critical flows like payroll and welfare.
Support for everyday functions plus value-added innovations like in-app payments.
Clear pathways for non-bank participants (fintechs/PSPs) to connect to infrastructure.
Sustainable economic models for participants with transparent costs.
Use of common rules, formats (like ISO 20022), and processes to ensure interoperability.
3. Scope and Future Directions: Marking domestic A2A payments including credit transfers, direct debits, and bulk payments as in scope; and debit cards (Visa/Mastercard/eftpos), cheques, physical cash, and the international leg of cross-border payments as out of scope. The system is also expected to eventually integrate with AI-driven payments, digital identity frameworks, and digital assets like stablecoins.
The Roundtable is seeking feedback on this draft until 22 May. Following the consultation, a detailed industry roadmap will be developed in 2026 to define implementation milestones and transition plans for existing schemes like Bulk Electronic Clearing System and the New Payments Platform. Execution of this roadmap is expected to begin in 2027.