9 October 2025
The ABA welcomes today’s release of the exposure draft legislation to modernise the regulation of payment service providers.
ABA CEO Simon Birmingham said the proposed reforms represent another important step towards ensuring Australia’s payments system remains safe, secure and fit-for-purpose.
“Australians now have access to a range of payment options and no matter how they choose to pay, they should be afforded the same consumer protections,” Mr Birmingham said.
“Banks have called for a core licensing regime for some time and welcome the clearer obligations on payment service providers that will be delivered with these reforms.
“These reforms will help to ensure our regulatory framework continues to deliver a world-class payments system across the entire economy.
“Importantly, these changes are about making sure all players in the payments system, including multinational tech companies, are captured by the same rules.
“Banks welcome the opportunity to engage with the Government on these important reforms that will support confidence, innovation and growth in our payments system.
Latest news
E&OERadio InterviewABC Illawarra22 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering; Scam prevention efforts by banks Melinda James: Well, this is a big and growing problem. There were 13,000 bank accounts shut down by the four major Australian banks in the financial year 2023–24. So, how big a problem… Read more »
Thank you for the opportunity to appear alongside our friends and colleagues at COBA today. The Cash Distribution Framework Bills are a critical step to provide security to the long-term availability of cash in Australia. Our written submission sets out our position in detail. Today I will focus on a few key points. The banking industry is committed to ensuring that Australians who… Read more »
E&OERadio Interview2SM Sydney21 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering Tim Webster: Look, we spoke to Peter Price from Crime Stoppers, the boss at Crime Stoppers, about this banking mules. I mean, this ridiculous situation where the young ones are coerced into being, you know, money mules and… Read more »