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Payments Modernisation at a Crossroad: What Lies Ahead for PSPs in Australia?

June 7, 2023 marked one of the most active days of regulatory activity in Australia to date this year, as the government published its strategic plan for the Australian payments system. The government also launched two consultations: the first consultation aims at tackling proposed amendments to the Payments Systems (Regulation) Act 1998 (PSRA 1998); and the second consultation focuses on a list of payment functions designed to potentially form a foundation for a new licensing framework for payment service providers. This regulatory analysis will explore the background and key drivers motivating the initiatives.

VIXIO’s articles are included in the suite of GamblingCompliance and PaymentsCompliance products. We do not provide access to individual articles on an ad-hoc basis. If you are interested in the VIXIO service, please get in touch or request a demo.
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VIXIO PaymentCompliance is a comprehensive regulatory analysis and monitoring solution. We help compliance teams track and monitor regulatory changes, helping them prepare for new requirements and identify where action needs to be taken to ensure compliance.

Trusted by compliance professionals and legal consultants, VIXIO PaymentsCompliance empowers firms to make the right decisions to protect and grow their business, in a more cost-effective and efficient way.

Whether it is entering a new or emerging market, procuring or expanding new licences, staying on top of day-to-day compliance or to gain competitive advantage, VIXIO has the solution.

Get in touch to learn more about VIXIO’s regulatory intelligence and how we can support your business goals.

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Insights & Regulatory Analysis

Our in-house team of experts bring you the latest insights affecting the payments industry. Combining our unrivalled knowledge and deep understanding of the sector, we provide critical and timely intelligence that helps you make sense of what’s happened and what it means for your organisation.

Trackers & Guides

Our event trackers & practical guides help you stay fully informed about a specific development affecting the regulation of payment services. Understand all the details of a complex chain of events to create a fully appraised strategy, and use our expert research and practical content to better inform your decision making.

Horizon Scanning & Requirements

Comprehensively monitor hundreds of regulatory bodies across multiple jurisdictions and languages. With customised alerts and a feed of every event indicative of change, you’ll never miss a new obligation or opportunity. Once an event becomes law, continue to have support during the on-going review of licensing obligations, so you know what action needs to be taken when procuring or expanding licences.

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