Objective 4.1

Innovation in exports and the shift to digital is supported and promoted

Action 4.1H

The Government will review the regulatory architecture applying to the payments system to ensure it remains fit for purpose and is capable of supporting continued innovation for the benefit of both businesses and consumers.

Department of the Treasury

Industry
recommendation/s
Description
Government response
Related Action/s
19C

Government support industry develop tools to manage added liability from higher risks associated with digital rather than face-to-face transactions.

Agreed-in-principle

Progress to date

The Government announced in the 2020-21 Budget that it will be reviewing the regulatory architecture applying to the payments system to ensure it remains fit for purpose and is capable of supporting continued innovation for the benefit both businesses and consumers. The report has been delivered to government.