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RBA's Lowe on payment systems evolution

In a speech given on 27 September Philip Lowe of the RBA said over the past year or so, the Reserve Bank has been examining the architecture and governance of Australia's payment systems and the range of payment products offered in Australia.

"This interest reflects the recognition that, in the medium term, the efficiency of the Australian payments system depends, in part, on the ability of the system to deliver a wide range of payment services at reasonable cost. The Bank's work to date has

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