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PayDay News | Australian Payments News

Payments reforms put global providers in the frame

Senior Banking and Financial Services Correspondent
10 Sep, 2025
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George Lekakis
Senior Banking and Financial Services Correspondent
10 Sep, 2025
Add us as a preferred source on Google
After years of deliberation and delay, federal parliament has finally passed changes to the Payments System Regulation Act. While the reforms give the Treasurer new special powers to designate payments systems in the ‘national interest’ they are unlikely to advance the RBA’s mandate to support competition. Currently only eftpos, NPP, Visa and MasterCard are designated payment systems.
Payments reforms put global providers in the frame
PayDay News

After years of deliberation and delay, federal parliament has finally passed changes to the Payments System Regulation Act. While the reforms give the Treasurer new special powers to designate payments systems in the ‘national interest’ they are unlikely to advance the RBA’s mandate to support competition. Currently only eftpos, NPP, Visa and MasterCard are designated…

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