Australian Payments Council

Trade association

Australian Payments Council

Company type| Industry body
Industry| Payments
Founded| August 2014; 10 years ago (August 2014)
Defunct| February 2022 (2022-02)
Fate| Dissolved
Headquarters|

Sydney

Australia

Key people

| Robert Milliner, Chair
Parent| Reserve Bank of Australia
Website| australianpaymentscouncil.com.au

The Australian Payments Council is the strategic coordination body for the payments industry. It promotes industry collaboration and engages directly with the Reserve Bank of Australia’s Payments System Board (PSB).

The Payments Council also encourages and facilitates strategic alignment between the payments industry and the Payments System Board on significant payments issues and initiatives.

The Council has an independent non-executive chairman and 13 members each drawn from a broad community of payments organisations that include financial institutions, card schemes, major retailers and other payment service providers as well as the Australian Payments Clearing Association (APCA) and the Reserve Bank of Australia (RBA). Robert Milliner acts as the independent non-executive chairman of the Council.[1]

## Objectives

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The Australian Payments Council works collaboratively with the industry to ensure the Australian payments system continues to meet the changing needs of Australian businesses and consumers. The Australian Payments Council’s achieves this by:

* Driving the strategic agenda for the Australian payments system
* Engaging with the Payments System Board on setting and achieving strategic objectives
* Identifying strategic issues and emerging trends
* Generating common industry positions for adoption by the industry
* Identifying and removing any barriers to innovation through collaboration

## History

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In October 2013, the Australian Payments Clearing Association (APCA) and the Reserve Bank of Australia (RBA) launched a joint consultation on establishing a new payments industry coordination body.[2] Over 15 industry submissions were received in November 2013 to help shape the structure and governance of the council.[3]

The Australian Payments Council was established in August 2014.[4][5] The initial member organisations drawn from the wider Payments Community to form the Payments Council were: ANZ, APCA, Commonwealth Bank, Cuscal, eftpos Payments, First Data, National Australia Bank, PayPal, RBA, Suncorp-Metway, Visa, Westpac and Woolworths.

The Australian Payments Council held a hackathon in August 2017 to examine how greater access to data could improve the lives of Australians.

The Australian Payments Council met for the final time on 28 February 2022.[6] The decision to discontinue its role as the strategic coordination body for the Australian payments recognised that arrangements announced by the Government in response to the Review of the Australian Payments System will largely supersede the role of the APC.[7]

## References

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1. ^ "Australian Payments Council appoints Robert Milliner as Chairman", 18 July 2018
2. ^ "Proposed Establishment of an Australian Payments Council and User Consultation Group", 21 October 2013
3. ^ "Australian Payments Council Submissions", Retrieved 28 August 2015
4. ^ "Formation of the Australian Payments Council" (Press release). Reserve Bank of Australia. 25 August 2014.
5. ^ "RBA ANNOUNCES FORMATION OF AUSTRALIAN PAYMENTS COUNCIL", 27 August 2014
6. ^ "Australian Payments Council winds up after eight years of driving industry strategy", 10 March 2022
7. ^ "Australian Payments Council winds up" (Press release). Australian Payments Network. May 2022.

## External links

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* Australian Payments Council Website

* v
* t
* e

Banking in Australia

Central bank|

* Reserve Bank of Australia

Local banks|

| Majors (Big Four)|

* ANZ
* Suncorp Bank
* Commonwealth Bank
* Bankwest
* National Australia Bank
* UBank
* 86 400
* Westpac
* Bank of Melbourne
* BankSA
* St.George Bank

|

Majors (other)|

* Alex Bank
* AMP
* Auswide Bank
* Judo Bank
* Macquarie Bank
* Bank of Queensland
* ME Bank
* Virgin Money
* Bendigo & Adelaide Bank
* Up

Member-owned|

* Bank Australia
* Australian Unity Bank
* Bank First
* BankVic
* Beyond Bank Australia
* Cairns Bank
* Community First Bank
* Credit Union SA
* Great Southern Bank
* Hume Bank
* IMB
* MyState
* Newcastle Greater Mutual
* Greater Bank
* Newcastle Permanent
* P&N Bank
* People First Bank
* Heritage Bank
* People's Choice
* Police Bank
* Qudos Bank
* RACQ Bank
* Regional Australia Bank
* Teachers Mutual Bank

Defunct|

* Volt Bank
* Xinja

Foreign banks|

* Arab Bank
* Bank of China
* Bank of Beirut
* Heartland Bank
* HSBC
* ING
* Rabobank

Non-bank lenders|

* Aussie
* Latitude
* La Trobe Financial
* Mortgage Choice
* Pepper Money
* Zip Co

Regulators|

* Australian Securities and Investments Commission
* Australian Competition & Consumer Commission
* Australian Prudential Regulation Authority
* Australian Payments Council
* Australian Payments Network
* eftpos
* BPAY
* New Payments Platform
* Four pillars policy

Other Financial Institutions|

* Cuscal
* Tyro Payments

Commissions of Inquiry|

Royal Commission 2017–2019

* Category:Banks of Australia
* Economy of Australia
* Financial system in Australia
* List of banks in Australia

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