Central Banking

RBA's Lowe: payments providers must cooperate

There is a strong case to re-examine the balance that has been struck in the Australian payments system between competition and cooperation, said Philip Lowe, an assistant governor of country's central bank.

Lowe said that financial institutions had been very good at competing on developing payment products using the existing infrastructure, but that they had not been so good at cooperating to ensure that the infrastructure was improved over time.

"Ideally, we would have world-class payment

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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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 here: