The Australian Payments Council fosters the ongoing development of the Australian payments system to ensure it continues to meet the changing needs of Australian businesses and consumers with innovative, safe and competitive payment services.
Who we are
The Australian Payments Council is the strategic coordination body for the payments industry. The Payments Council has an independent non-executive chairman and members comprising senior executives drawn from a broad community of leading payments organisations. These organisations include financial institutions, card schemes, major retailers and other payment service providers as well as the Australian Payments Network and the Reserve Bank of Australia. The Australian Payments Council chairman is also chairman of the Payments Community.
What we do
The Australian Payments Council promotes industry collaboration. It encourages and facilitates strategic alignment between the payments industry and the Payments System Board on significant payments issues and initiatives. The Australian Payments Council’s role is to coordinate industry efforts to:
- Drive the strategic agenda for the Australian payments system
- Engage with the Payments System Board on setting and achieving strategic objectives
- Identify strategic issues and emerging trends through constant scanning of the payments environment
- Generate common industry positions for action and adoption by the industry with the endorsement of the Payments System Board
- Identify and remove any barriers to innovation through collaboration
The Australian Payments Council undertakes its activities with transparency and integrity.
How we work
The Australian Payments Council provides a forum for the Payments System Board to consult with industry. The nature of this arrangement is formalised in a Memorandum of Understanding that was established in August 2015. This direct engagement with the Payments System Board is an important part of the Council’s role and the two parties convene a meeting in August each year.
The Council meeting with the Payments System Board in August, 2017