Review of Payments System Regulation
The Reserve Bank of Australia (RBA) is conducting a Review of Payments System Regulation (Review). This Review is being undertaken at a time of significant innovation and change in the payments landscape, which is reshaping how Australian consumers and businesses make and receive payments. Reflecting these changes in the payments landscape, the Payment Systems (Regulation) Act 1998 was amended in December 2025 to expand the coverage of the legislation to additional payment systems and their participants. The RBA is seeking stakeholders’ views on the issues that should be prioritised to promote competition, efficiency and safety in payments.
The indicative timeline for the Review is:
| Milestone | Timeline |
|---|---|
| Issues paper released | 25 June 2026 |
| Evidence in writing due to the RBA | 7 August 2026 |
| RBA publishes non-confidential submissions | By the end of August 2026 |
| RBA may reach out to stakeholders that made a submission | August and September 2026 |
| RBA publishes regulatory priorities | By the end of 2026 |
| RBA commences consultation on prioritised issues | By mid-2027 |
| RBA announces conclusions on prioritised issues | 2028 |
Current Review Phase
Previous Review Phases
Submissions Received to the Issues Paper
AUGUST 2026The Issues Paper invited stakeholder views and evidence on which payments policy issues should be prioritised by the RBA.
Issues Paper
JUNE 2026The RBA is seeking evidence on which issues should be prioritised for further consultation. Stakeholders were invited to submit evidence in writing by 7 August 2026.