Australia - Payment Systems Evolution: Where to From Here?

Philip Lowe, Assistant Governor (Financial System) of the Reserve Bank of Australia has given a presentation to the Australian Bankers' Association and the Australian Payments Clearing Association Forum titled "Payment Systems Evolution: Where to From Here?" (PDF). A background paper titled Payment Systems Developments and Architecture: Some Background (PDF) is also available. The presentation and background paper examine two related issues: whether the development of payment products in Australia has been keeping pace with that abroad and on the implications of a number of Australia's payment systems being based on bilateral technical and business linkages vs. a more centralized approach.