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RBA Glossary definition for BECS

BECS – Bulk Electronic Clearing System operated by Australian Payments Network (AusPayNet)

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A Strategic Plan for the Payments System

6 Jun 2023 Submissions PDF 539KB
relied on by businesses and governments. However, BECS has various technical limitations that reflect. ... decisions between all key stakeholders on a plan for the future of BECS.
https://www.rba.gov.au/publications/submissions/payments-system/pdf/consultation-on-a-strategic-plan-for-the-payments-system.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

Strategic Issues – Scope of Migration | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
salary payments) and direct debits (e.g. utility payments). These payments are bilaterally cleared between Bulk Electronic Clearing System (BECS) members and settled periodically in multilateral batches in RITS. ... in BECS) significantly limits the
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/strategic-issues-scope-of-migration.html

Glossary | ISO 20022 Migration for the Australian Payments System – Issues Paper – April 2019

31 Dec 2002 Consultations
BECS. Bulk Electronic Clearing System. This clearing system is administered by AusPayNet and is used for exchange of direct credit and direct debit payments. ... LVSS. Low Value Settlement Service. A RITS service used for the lodgement of settlement
https://www.rba.gov.au/publications/consultations/201904-iso-20022-migration-for-the-australian-payments-system/glossary.html

ISO 20022 Migration for the Australian Payments System – Responses and Options Paper

11 Sep 2019 Consultations PDF 1175KB
instructions for obligations arising in APCS, BECS and some card systems.
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/pdf/consultation-paper.pdf

Glossary | ISO 20022 Migration for the Australian Payments System – Responses and Options Paper – September 2019

31 Dec 2002 Consultations
LVSS. Low Value Settlement Service. A RITS service used for the lodgement of settlement instructions for obligations arising in APCS, BECS and some card systems.
https://www.rba.gov.au/publications/consultations/201909-iso-20022-migration-for-the-australian-payments-system-responses-options/glossary.html

ISO 20022 Migration for the Australian Payments System – Conclusions Paper

25 Feb 2020 Consultations PDF 560KB
LVSS Low Value Settlement Service. A RITS service used for the lodgement of settlement instructions for obligations arising in APCS, BECS and some card systems.
https://www.rba.gov.au/publications/consultations/202002-iso-20022-migration-for-the-australian-payments-system/pdf/iso-20022-migration-for-the-australian-payments-system-conclusions-paper.pdf