BECS Transition Updates

Archived Updates

18 August 2023 

BECS enables the processing of Direct Entry payments, including direct debits and direct credits, between individual accounts held at different Australian financial institutions. As the Plan observes, this system has served Australia well, enabling businesses, governments, and individuals to make both one-off and recurring payments since the mid-1990s. But since that time, more modern payment alternatives have emerged, that are equipped with greater functionality and capability.

AusPayNet has consulted with BECS members, users of the system and providers of payment alternatives to test the appetite for, and readiness to adopt, BECS alternatives. Consultation has confirmed that while a move away from BECS represents both opportunity and challenges, there is a strong case for change. Consultation also revealed that the readiness for adoption of alternatives varies depending on the specific BECS use cases. As an example, we have already seen the take up of payment alternatives for single payment use cases, whereas the preferred approach for processing bulk files continues to be BECS.

Following the consultation, AusPayNet is looking to set the strategic direction for the future of the BECS Framework. Over the coming months, target timeframes, industry monitoring and reporting, a governance structure, and a related communications plan will be developed. More detail on this plan will be available by the end of the year.