In late 2023, the Governor of the Reserve Bank of Australia — Michele Bullock — delivered the Annual Payments Address at the Australian Payments Network Summit. Governor Bullock described the Payments System Board’s strategic priorities, and drew a 2030 line-in-the-sand for Australia's legacy BECS framework. As Chris Ponton Dwyer says, the payments modernisation starter's pistol has been fired.
The Governor's keynote confirmed that the payments industry, through AusPayNet, had set a target date of 2030 for the retirement of Australia's legacy BECS payments framework
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