AES Migration Program Updates
February 2026
Phase 2a of the AES Migration Program concluded in December 2025, with the AES Migration Steering Committee approving the commencement of Phase 2b: Pilot Execution, to be undertaken in 2026.
The decision followed the completion of the Phase 2a 'Pilot Preparation' deliverables, including:
- development of industry test plans, testing scenarios and supporting processes
- elaboration and refinement of the Technical Blueprint, Migration Strategy and Migration Handbook
- development of Stage 1 Issuer and Acquirer Community (IAC) Code Set changes to support Pilot execution.
Pilot Execution planning is now progressing. Two volunteer Acquirers are working with their suppliers on the delivery of AES-enabled assets and the establishment of test environments in preparation for Industry Testing and Certification. Following certification, these assets will be deployed into production to support controlled Pilot transactions involving live customer activity.
Key activities for Phase 2b also include:
- finalising AES Migration sunrise and sunset dates and incorporating the associated milestones into the IAC Code Set
- working with Participants to assess options for an asymmetric-based key establishment method that is quantum-safe and capable of securely transporting AES symmetric keys
- publishing a 2026 Communications Schedule, including webinars, open forums, newsletters, readiness surveys and ongoing engagement with government and regulatory stakeholders.
In relation to pursuing a Program mandate, the RBA Payments System Board met on 26 November 2025 and expressed support for the AES Migration Program, noting the potential use of the RBA’s standard-setting powers under the Payment Systems (Regulation) Act 1998 to support the migration. At the AusPayNet Summit on 16 December, Brad Jones, Assistant Governor (Financial System), confirmed that the RBA has agreed to consult around the middle of 2026 on the potential use of such powers.
