The payments industry in Australia: Status and future developments

ABSTRACT

The payments ecosystem is experiencing accel-erated change, with the COVID-19 pandemic acting as an additional catalyst. This paper looks at the example of Australia, where regulation has been reset to reflect, and future-proof its handling of, these changes. With a focus on regulation, and the modernisation of payments systems, this paper concentrates on what these changes mean for legacy payment systems, for the future of cash, and for their end users, especially in terms of their trust and confidence in payments. © Henry Stewart Publications, 1750-1806.