BECS Transition Updates

20 August 2024

As the custodians of the BECS Framework, AusPayNet is committed to ensuring that the transition away from the framework is managed responsibly, with no disruption to the efficient and secure flow of essential payments. To achieve this outcome, AusPayNet is leading several activities that have been categorised into three dimensions: 'control', 'collaborate', and 'coordinate'.

Control the future of the framework

AusPayNet will continually test the validity of the target end-date based on the industry’s progress on transitioning BECS use cases off the BECS Framework, and intends to provide an update on the target end-date for the framework to its Members and key stakeholders on a half-yearly basis.

Collaborate with industry

AusPayNet is collaborating with regulators and industry participants on a number of initiatives to facilitate the migration away from the BECS Framework. These include:

• Treasury’s engagement with relevant government agencies and other key users of BECS bulk payments on their needs and readiness to transition away from BECS
• The RBA’s risk assessment for the decommissioning of BECS, monitoring of NPP readiness (covering account reach, cost, capabilities for direct debit and bulk payments, capacity and reliability) and FSS readiness to take on BECS volumes, and Account-to-Account Pricing Study
• Initiatives or programs established by providers of modern alternatives to BECS for the migration of BECS use cases to their platforms
• BECS members’ own transition plans.

Coordinate the migration

AusPayNet recognises that a successful decommissioning of BECS may benefit from collaboration between industry participants (including those that may be considered competitors). As such, any potential coordination plan would need to be designed in a way that ensures compliance with competition laws (which, in some cases, is best achieved by seeking authorisation from the ACCC). AusPayNet is monitoring industry developments and continually assessing whether there might be a need for wider coordination (and ACCC authorisation, if appropriate).