Our Strategy
The payments industry continues to be shaped by three primary drivers of change: rapidly evolving customer experience and expectations, emerging technologies and competition, and ever-increasing regulatory scrutiny and intervention.
Over the last decade, the combination of these drivers has accelerated digital and mobile payments, led to the decline of cash and cheques, and supported the rise of e-commerce. More broadly, we expect to see increased focus on fostering innovation, enabling efficiencies, operational resilience and ensuring an orderly disruption of legacy systems, noting the integral role that the payments infrastructure plays in the smooth functioning of the economy.
As part of this focus, the Government has adopted an expanded and direct role in the setting of payments policy through the Treasury. The strategic focus for AusPayNet over the next three years is to ensure effective modernisation and rationalisation of legacy payment systems, while also paving the way for the future of payments through our standards and insights work.
In the context of increased Government oversight and direction, it is particularly important to ensure that the benefits of the industry-led standard-setting model are understood and realised. AusPayNet will continue to deliver confidence in payments by focusing on three strategic pillars: Standards, Transformation, Insights.
