Cheque use is declining rapidly as Australia's digital economy takes hold.
Fewer Australians are paying with cash than ever before with cash now accounting for just 27% of all payments.
Payment cards have overtaken cash as the most frequently used payment method in Australia.
Debit cards and credit cards are the most common payment method used by Australians today.
Most in-person payments are ‘contactless’, online shopping is increasingly popular and mobile payments are gaining traction.
Financial institutions issue debit cards and credit cards supported by the international card schemes (Visa, MasterCard), as well as debit cards supported by the domestic debit card scheme, eftpos Payments Australia. Charge cards are issued by American Express, Diners Club, JCB and others.
Dual-network debit cards have point-of-sale debit functionality from the domestic debit card scheme network and an international card scheme network. Merchants are able to send a dual-network contactless debit card transaction via the debit network of their choice, for example, because that network offers the lower cost for that transaction.
More information about merchant routing is available here.
Australian Payments Network is at the heart of the payments system.
Local and global policy trends are shaping the future of payments.
As the payments system rapidly evolves, the views and expectations of policymakers, regulators and the broader public are undergoing a similar shift. Local and global policy trends are increasingly shaping the future of payments.
As the industry association and self-regulatory body, AusPayNet works with industry stakeholders, government regulators and the wider community to provide thought leadership and policy development for the payments industry. Our aim is to foster an efficient, effective payment system.
As part of this role, we:
As the payments landscape becomes more diverse, the range of organisations we bring together continues to expand.
Participation in AusPayNet activities is open to a diverse range of organisations. There are four broad categories of membership, which you can explore below.
By joining our network, organisations have the opportunity to: