We represent industry on domestic and global standards bodies.
AusPayNet is at the front line in the development of global standards to support secure innovation in payment technologies. These include key Australian standards as well as global ISO and PCI standards for card and PIN security, tokenisation and key management.
We are an active participant in the activities of the International Organization for Standardization. Currently, we contribute to:
We also participate on domestic mirror committees for ISO work through Standards Australia, including:
Other standards related bodies we participate on include:
We bring rigour to the application of self-regulation and collaborative decision-making.
The cornerstone of the future of payments
Digital identity plays an important role in the future of payments innovation because it is the gateway to a seamless customer experience. Across the world, a range of organisations, from governments to banks, retailers, telcos and social media companies are looking to solve the challenge of securely and conveniently identifying individuals and organisations online.
The establishment of a digital identity framework will create new opportunities for digital service delivery, as well as helping to mitigate the risks of identity theft and online payment fraud. Importantly, it also has the potential to reduce the quantity of personally identifiable information (PII) that is shared online.
Open banking is the term for financial institutions sharing data
Trust is the cornerstone of data sharing. It is at the centre of the many and varied data sharing arrangements in place today.
Trust is also the foundation of the Australian payments system. This system plays a crucial role in Australia’s economy and as the economy becomes more digital, it generates increasing amounts of data.
The data generated by participants in Australia’s payments system is high value data. It is used to solve problems, deliver benefits and meet obligations. For example:
Importantly, current approaches to data sharing are effective because they successfully protect consumers, maintain trust and balance the commercial interests of stakeholders. This is achieved through alignment of five core requirements:
We believe we have a role to play aligning these requirements as data sharing is further explored.