The Government is seeking input into the Strategic Plan for the Payments System. Feedback received on this consultation paper will inform the Government’s inaugural Strategic Plan for the Payments System.
The Strategic Plan is an important initiative for the Government to provide industry and regulators with clarity about its policy priorities, with a view to supporting the resilience of payments system, strengthening the powers of regulators to adapt to new payments methods and promoting the transition to more modern payments infrastructure.
The release of this consultation paper is an important step in the Government taking an enhanced leadership role of the payments system, with a view to ensuring that the Australian economy continues to be supported by a modern and resilient payments system.
The Government is seeking views on key questions set out in this paper, including principles to support a world-class payments system, priorities that reflect the evolving payments landscape, and supporting reform initiatives and actions.
60 submissions were received for this consultation, including 8 confidential submissions.