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.
Industry
recommendation/s
recommendation/s
Description
Government response
Related Action/s
19B
Government assist industry to identify and accelerate the adoption of innovations in online service delivery.
Agreed-in-principle
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.