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PayDay News | Australian Payments News

Taxpayers foot the cost of RBA’s EasyPay service

Senior Banking and Financial Services Correspondent
11 Jun, 2025
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George Lekakis
Senior Banking and Financial Services Correspondent
11 Jun, 2025
Add us as a preferred source on Google
In 2021 the Reserve Bank gave banks 12 months to roll out least-cost routing for card-not-present payments. However, in 2025 the RBA-managed online payments platform - EasyPay – still hasn’t processed an eftpos transaction.
Taxpayers foot the cost of RBA’s EasyPay service
The Reserve Bank’s push to get banks to deliver efficient least-cost routing services to Australian retailers is facing a credibility test amid concerns that an online payments platform it manages for the Commonwealth government cannot accept debit transactions processed

In 2021 the Reserve Bank gave banks 12 months to roll out least-cost routing for card-not-present payments. However, in 2025 the RBA-managed online payments platform - EasyPay – still hasn’t processed an eftpos transaction.

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