Strategic Priorities for Payments Policy

RBA Payments Policy Strategy 2025–2027

Read the Payments System Board Annual Report for more information

At its August 2025 meeting, the Payments System Board endorsed an RBA payments policy strategy focused on three strategic objectives, supported by 10 priority initiatives, over 2025–2027. This strategy will help prioritise the RBA’s efforts to support the Australian payments system to evolve in line with the public interest over coming years. The Board will regularly review progress being made.

This diagram shows the three strategic objectives for the RBA Payments Policy Strategy for 2025 to 2027. The first objective is to strengthen the resilience of the payments system. The second objective is to promote a competitive, accessible and innovative payments system. The third objective is to shape the future of money so it meets the evolving needs of the community, economy and financial system.

Strengthen the resilience of the payments system

Payments and market infrastructures play a crucial role in facilitating payments and managing financial risk in the financial system. The reliance of the community, economy and financial system on these services means that disruptions can have wide-reaching effects. The RBA is focused on ensuring risks to payments and market infrastructures are managed appropriately.

Promote a competitive, accessible and innovative payments system

Consumers and businesses rely on the payments system every day. The RBA has an important role to play in promoting a payments system that delivers competitive, accessible and innovative payments for consumers and businesses.

Shape the future of money so it meets the evolving needs of the community, economy and financial system

Australians need safe, efficient and cost-effective payment options, both now and in the future. As the payments landscape changes, the RBA is helping to shape the future of money by exploring the case for new digital forms of money, and by ensuring cash remains a viable means of payment for those who need or want it.

RBA payments policy priority initiatives

To achieve its payments policy strategic objectives, the RBA will pursue 10 priority initiatives over 2025–2027 to:

  • identify system-wide risks to Australia’s payments system that require attention
  • call on payments and market infrastructures to improve their governance, risk management and operational resilience to meet regulator and community expectations
  • deliver a framework for clearing and settlement (CS) facility crisis management and operationalise new powers for CS facility supervision
  • oversee the industry’s efforts to transition account-to-account payments to more modern features in a manner consistent with the public interest
  • assist payments regulatory reform, including to enhance the resilience of the payments system
  • work with government and industry to reinforce reasonable access to cash across the community
  • review the regulatory settings for retail payments systems and support the implementation of adjustments if required
  • enhance cross-border payments
  • assess how innovations in digital money and existing infrastructure could enhance wholesale payments and settlements
  • deepen analysis into the issues associated with new forms of retail digital money, including central bank digital currencies (CBDCs).