Australia investigates options for updating payments system
Speaking on Tuesday, Malcolm Edey, the assistant governor (financial system) of the Reserve Bank of Australia (RBA) set out the Bank's plans to look at ways to revise the country's payments system.
The RBA launched a strategic review of payments innovation in July last year. Following a round of initial consultations, both with industry and other interested parties, Edey announced that the RBA will release a more detailed document around mid-year, which will be the basis for a more formal round
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