In May 2020, AusPayNet welcomed the opportunity to respond to Treasury's Consultation, Inquiry into Future Directions for the Consumer Data Right.
Our submission highlighted the prerequisites for a successful data economy: an effective and robust governance framework and customer identification and verification.
This model has been tried and tested over time, as payments technology and consumer preferences have changed, and continue to change. Utilising this experience and leveraging existing regulatory processes and procedures, not only provide useful learnings and insights, but could be a more cost-efficient way of delivering a world class data economy for Australia.
The full submission is available below.