Submissions on Review of the Regulatory Framework for the eftpos System: Consultation on Designation

In September 2011, the Reserve Bank of Australia announced that it would undertake a review of the regulatory framework for the eftpos payment system in light of developments in that system over recent years. The first public phase of that review was launched on 9 March 2012 with the release of the Reserve Bank's consultation on the possible form of a new designation for the eftpos system. A new designation needs to be considered given that recent developments – most notably, the establishment of eftpos Payments Australia Limited (ePAL) – have resulted in the existing designation no longer reflecting the current structure of the eftpos system. It is anticipated that a consultation on other elements of the regulatory framework for the eftpos system will follow later in the year.