Skip to main content
Financial Assistance Hub

Banks welcome more progress to modernise payments system rules

Banks welcome more progress to modernise payments system rules

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

1 / 3
Media Releases
Small business reaping benefits of stronger competition in lending market 
17 August 2026

Small businesses are benefiting from more favourable lending conditions thanks to stronger competition, as the full extent of banking support for these businesses is laid out in a new report released today by the Australian Banking Association.  The ABA’s latest industry report focusing on small and medium businesses finds:  ABA CEO Simon Birmingham said the… Read more »

Read more
Media Releases
Banks urge passage of Cash Distribution legislation 
12 August 2026

The ABA urges the final passage of the Cash Distribution Framework Bill 2026 and accompanying legislation through the Senate this fortnight.  ABA CEO Simon Birmingham said the legislation was a critical safety net to protect the long-term availability of cash for Australians who still rely on it.  “Cash remains an important payment option for many Australians,… Read more »

Read more
Transcript
ABA CEO Simon Birmingham interview with 2SM’s Tim Webster on Census scams
12 August 2026

E&OERadio Interview2SM Sydney12 August 2026 Topics: Census scams Tim Webster: And Simon Birmingham is the CEO of the Australian Banking Association, and he’s jumped on the line for us. G’day, thanks for your time. Simon Birmingham: Good morning, Tim. Good to be with you. Tim Webster: Yeah, I did mention it to the listeners yesterday,… Read more »

Read more