Central Banking

Payment systems need more competition: RBA

The Reserve Bank of Australia remains concerned about the competitiveness of the country's payments system, despite improvements, said Philip Lowe, the assistant governor responsible for the financial system at the central bank.

Lowe said the concerns "largely stem from the structure of the incentives facing merchants and are compounded by the current governance arrangements in the ETFPOS [Electronic Funds Transfer at Point of Sale] system."

Lowe said the Reserve Bank's payments systems board was

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account