RBA payments head hails ‘hub-based’ retail payments platform
The Reserve Bank of Australia's head of payment policy, Tony Richards, believes the country's new payments platform (NPP) will push it to the "global frontier" of retail payments.
Speaking at a conference on the future of digital payments in Sydney, Richards said the NPP – a project to deliver faster payments – should be based on a hub infrastructure that will link market participants.
Many of Australia's existing retail payment streams are conducted through bilateral systems, he explained
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