Australian Payments Network (AusPayNet)

Australian Payments Network Limited (AusPayNet) is an Australian payments-industry membership organisation and self-regulatory body. It develops and administers rules, procedures and standards for several payment frameworks, and supports coordination among participants. It does not own or operate the underlying payment infrastructure through which funds move.^[1][2]

Role in Australia’s payments system

The Australian payments system consists of payment methods, such as cash, cards, cheques and electronic transfers, as well as the arrangements that enable funds to move between accounts. The Reserve Bank of Australia (RBA) describes its own role as including payments policy, oversight and the operation of settlement services. AusPayNet has a distinct industry role: it convenes participants and administers frameworks of rules and standards used in parts of the payments system.^[3][7]

AusPayNet characterises itself as an industry association and self-regulatory body. Its activities include developing regulations, procedures and standards for participating organisations, facilitating industry collaboration, and contributing to policy discussions. In its 2026 submission to the RBA, AusPayNet reported that it had more than 160 members, including financial institutions, payment-system operators, major retailers and financial technology companies. Membership figures can change over time.^[4]

The organisation’s remit should be distinguished from ownership or operation of payment rails. AusPayNet says it administers the rules that apply when participants use underlying infrastructure to transact with one another; it does not itself own or operate that infrastructure or the payment-system schemes.^[2] This distinction separates industry-wide framework administration from the technical services that transmit, process or settle payment instructions.

Payment frameworks and rules

AusPayNet publishes regulations, procedures, guidelines and other materials for payment frameworks. Its resources page describes six administered frameworks and says each is managed by a committee reporting directly to its board. It also states that the regulations and procedures for each framework have contractual effect between AusPayNet and participants, and among participants in that framework.^[1]

The frameworks cover different payment activities. AusPayNet identifies rules for cheques, direct entry, cards, high-value payments, cash distribution and exchange, and the COIN infrastructure. Its regulatory Q&A names the Australian Paper Clearing System (APCS), Bulk Electronic Clearing System (BECS), Issuers and Acquirers Community (IAC), High Value Clearing System (HVCS), Australian Cash Distribution and Exchange System (ACDES), and COIN.^[1][2] The scope and operation of an individual framework depend on its applicable regulations, procedures and standards.

These arrangements provide common requirements for participating organisations. Framework rules can specify participant responsibilities, processes for exchanging payment information or items, operational procedures, and mechanisms for handling compliance matters. The detailed requirements differ among frameworks; the relevant current rules and procedures are published by AusPayNet.^[1] They are not a single universal set of rules applying identically to every payment method or provider.

AusPayNet also publishes material beyond framework regulations. Its resources include guidelines, fact sheets, security standards, information on approved payment devices, BSB-number lookup and files, and statistics on payment fraud and devices.^[1] It says it is the official supplier and custodian of Australian BSB numbers.^[1] A BSB is used in Australia to identify a financial institution and branch for payment and account-routing purposes; the organisation’s directory supports reference to those identifiers.

Membership and governance

AusPayNet is a company limited by guarantee, according to the organisation’s published framework regulations, and operates through a membership structure.^[5] Its membership spans organisations with different roles in payments, including institutions that participate directly in payment systems, commercial system operators, technology companies and suppliers to card issuers, acquirers and schemes.^[4][7] This range allows common operating arrangements to be discussed across parts of the industry, while members may have differing commercial interests and views.

The organisation’s resources page says each of its six payment frameworks is managed by a committee that reports directly to the AusPayNet board.^[1] The precise composition and powers of committees, and participant rights and obligations, are set out in the relevant framework documentation. AusPayNet’s submissions to public consultations may express its own position or reflect member consultation; readers should refer to the individual document to understand how a view was formed. For example, its 2026 RBA submission states that it was prepared by AusPayNet management and did not seek to represent a consensus among members.^[4]

Relationship with public authorities

AusPayNet’s self-regulatory function exists alongside public regulation and oversight. The RBA states that it is responsible for payments-system policy and has a broad role that includes oversight and settlement services.^[3] AusPayNet’s own regulatory Q&A says the RBA does not regulate AusPayNet directly, but has designated some payment systems operating under frameworks it administers. The same Q&A says the RBA declared the BECS framework a prominent payment system and is monitoring its wind-down in that capacity.^[2] Those statements describe the relationship as presented by AusPayNet; specific regulatory powers and decisions are matters for the relevant legislation and authorities.

A memorandum of understanding between the RBA and AusPayNet, dated 25 February 2026, describes procedures for liaison between the organisations. It identifies their shared interest in the operation and development of the Australian payments system and records that the RBA may communicate with AusPayNet about policy or operational issues, including major disruptions to frameworks administered by AusPayNet.^[7] The memorandum says it is a statement of intent rather than a legally binding agreement.^[7]

AusPayNet states that it is not classified as financial market infrastructure and does not provide the services of a financial market operator, clearing and settlement facility, derivative trade repository or benchmark administrator.^[2] It also says that its administered frameworks are not, as such, critical infrastructure assets under the Security of Critical Infrastructure Act 2018.^[2] These descriptions concern AusPayNet’s role and frameworks; they do not mean that every underlying payment system, operator or infrastructure provider is outside regulatory oversight.

Standards, policy and industry coordination

AusPayNet participates in standards work in Australia and internationally. It reports engagement with organisations including the International Organization for Standardization’s financial-services committee, the PCI Security Standards Council, and the Bank for International Settlements’ Committee on Payments and Market Infrastructures. Its stated standards objectives include security, interoperability, resilience, efficiency and innovation in payment systems.^[6] Participation in standards bodies does not mean that AusPayNet alone sets every standard used in Australian payments; standards may be developed or maintained by multiple organisations and adopted in different ways.

The organisation also contributes to public policy discussions through industry consultation and submissions to policymakers and regulators.^[1] Topics visible in its publications include payment-system regulation, card payments, payment fraud, resilience, and the transition of existing payment arrangements. As an industry body, AusPayNet provides a forum for participants to coordinate and present views, while statutory policy and regulatory decisions remain with government bodies and regulators such as the RBA.^[1][3]

Fraud information and operational resources

AusPayNet publishes aggregated payment-fraud statistics supplied by Australian financial institutions and card schemes. It says the data are released twice a year and are intended to assist monitoring of trends and inform prevention efforts.^[1][8] These statistics describe reported or collated industry data and should be interpreted according to the methodology and definitions accompanying each publication. They are not, by themselves, a complete measure of all payment-related crime or consumer losses.

The organisation also tracks numbers of ATMs and point-of-sale devices and says these figures are updated quarterly.^[1] Device information and approved-device resources provide industry reference material; they do not imply that AusPayNet operates those devices. Its published resources therefore combine framework governance with information services supporting members, providers and other users of payment-related data.^[1][2]

Significance and limits of its role

AusPayNet is significant because shared rules and standards can coordinate activities among organisations that otherwise operate separate businesses and systems. Its administered frameworks establish obligations and procedures for participants in specified payment arrangements, while its committees, standards activity and policy consultations provide mechanisms for industry coordination.^[1][6] The practical importance of any particular framework depends on its participants, transaction types, technical arrangements and current status.

The organisation is not the Australian payments regulator, nor is it the operator of all payment infrastructure. Its self-regulatory and administrative role complements public oversight and the work of individual payment-system operators, banks and technology providers.^[2][3] Understanding this division is important when attributing responsibility for a payment service: framework rules may be administered by AusPayNet, while the underlying systems, customer-facing services and settlement functions may be provided by other entities.