Skip to main content
Financial Assistance Hub

Payment system reform: statement

8 December 2021

Statement from ABA CEO Anna Bligh AC on the Government’s payment system reform plan:

The Australian Banking Association welcomes the Government’s payment system reform plan, which will pave the way for modernisation and improvements that benefit customers and ensure Australia maintains a world-class payments system.

Our payments system is a major artery running through the Australian economy and as customers change their banking behaviour and new technology arrives, it is vital the governance and regulation of the payments ecosystem remains fit-for-purpose.

It’s been more than twenty years since our country updated our payments architecture. While existing regulations and systems have served Australia well, we have seen unprecedented changes in how we pay each other.

The reforms foreshadowed today will enable the payments industry to modernise and innovate as new technologies emerge and customer needs evolve.
The banking industry supports the Government taking an expanded role in strategic leadership of the payments system.

As significant investors in the nation’s payment infrastructure, Australian banks will work with the Government to implement reforms that modernise payments infrastructure and ensure Australians continue to benefit from a dynamic, stable and secure system.

The payments ecosystem is vital to Australia’s economic success, it is closely interconnected to our economy, and monetary and financial systems. Ensuring ongoing stability, security and reliability is critical.

Latest news

1 / 3
Transcript
Launch of Confirmation of Payee
2 July 2025

ABA CEO Anna Bligh: Well, here we are on the front line of the fight against scams. This is one of Australia’s largest banks, and the team of people here talking with customers, trying to protect customers and fight against scammers. Today, here we are launching a new piece of technology called Confirmation of Payee…. Read more »

Read more
Media Releases
​Australian banks launch new defence in battle against scammers
2 July 2025

Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord –… Read more »

Read more
Media Releases
SIMON BIRMINGHAM APPOINTED AS ABA CEO
20 June 2025

Former Federal Finance Minister and Senate Leader, The Hon. Simon Birmingham, will join the Australian Banking Association as Chief Executive Officer. ABA Chair and National Australia Bank CEO Andrew Irvine today announced Mr Birmingham’s appointment, replacing retiring CEO, The Hon. Anna Bligh AC. “We are delighted to have Simon lead our industry and help ensure… Read more »

Read more