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RBA Glossary definition for direct debit
direct debit – A pre-authorised debit on the payer's bank account initiated by the recipient (payee).
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The Use of Established Payment Methods | Results of the Reserve Bank of Australia's 2010 Consumer Payments Use Study June 2011 |…
7 Jun 2011
Consultations
This covered all payments initiated by a third party, including direct debits through the direct entry system as well as automatic payments initiated on credit and scheme debit cards. ... Direct debits are widely used by consumers, with over
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/results/established-payment-methods.html
FSR Developments in the Financial System
10 Sep 2008
FSR
– September 2008
Another key element of the package is the introduction of a ‘listing and switching’ service in relation to transaction accounts, to simplify the process of identifying existing direct debit and credit ... if requested by the customer, the customer's
https://www.rba.gov.au/publications/fsr/2008/sep/dev-sys-infra.html
Domestic Regulatory Developments
8 Apr 2022
FSR
– April 2022
The direct effects on the Australian financial system have therefore been modest so far. ... These are the Mastercard debit and credit card systems, the Visa debit and credit card systems, the EFTPOS card system and the New Payments Platform.
https://www.rba.gov.au/publications/fsr/2022/apr/regulatory-developments.html
Options for Reform | Proposed Variation to the MasterCard and Visa Access Regimes: Consultation Document December 2013 | Consultations
6 Dec 2013
Consultations
A direct effect is likely to be that the costs of participation would be reduced for some entities. ... The Access Regime for the Visa Debit system was put in place in 2005.
https://www.rba.gov.au/publications/consultations/20131206-prop-variations-to-mc-visa-access-regimes/options-reform.html
Financial Stability Review – September 2008
13 Oct 2008
FSR
– September 2008
PDF
692KB
https://www.rba.gov.au/publications/fsr/2008/sep/pdf/0908.pdf
Domestic Regulatory Developments
18 Nov 2022
FSR
- April 2022
PDF
171KB
https://www.rba.gov.au/publications/fsr/2022/apr/pdf/04-regulatory-developments.pdf
ISO 20022 Migration for the Australian Payments System – Issues Paper
7 Apr 2019
Consultations
PDF
1644KB
A consultation paper issued by the Reserve Bank of Australia and the Australian Payments Council - April 2019
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/pdf/issues-paper.pdf
Innovation Gaps in the Australian Payments System | Strategic Review of Innovation in the Payments System: Issues for Consultation June…
7 Jun 2011
Consultations
the European Payments Council chose ISO 20022 global message standards as the payment message standard for the SEPA Direct Credit (2008) and Direct Debit (2009) transfer systems. ... The Direct Credit and Direct Debit systems can be used for cross border
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/issues/innovation-gaps.html
Appendix A – Study Methodology | Results of the Reserve Bank of Australia's 2010 Consumer Payments Use Study June 2011 | Consultations
7 Jun 2011
Consultations
Respondents were asked about payment behaviour not captured by the payments diary, including questions on cash holding, credit card repayments and use of direct debits. ... Z – Other. (a) Participants were asked not to record: payments made for any
https://www.rba.gov.au/publications/consultations/201106-strategic-review-innovation/results/appendix-a.html
Regulatory Developments
12 Apr 2019
FSR
– April 2019
This will allow consumers to direct businesses to transfer their data to an accredited third party. ... The BCBS is currently undertaking a quantitative impact study of banks' direct and indirect exposures to crypto-assets.
https://www.rba.gov.au/publications/fsr/2019/apr/regulatory-developments.html