APC outlines digital payments priorities
The Australian Payments Council (APC) has unveiled its new strategic agenda and outlined the five key focus areas for its future work, reports Jane Connolly.
Following on its 2015 Australian Payments Plan, the APC’s document – Payments in a Global, Digital World – represents a “step change” in the organisation’s approach to the payments system.
Five key focus areas have been identified for the APC. These are: identifying, managing and mitigating risks to payments system resilience; developing a double approach to combating financial crime, based on prevention and detection, and customer protection; developing guiding principles for financial inclusion and accessibility; delivering a roadmap for increased interoperability; and ensuring there are clear guidelines for innovation and auditable processes to allow service providers to identify and manage risk.
The agenda was developed following discussion with stakeholders and a public consultation conducted earlier this year.
Robert Milliner, chairman of the APC, says: “The new strategic agenda acknowledges the trend towards globalisation and regionalisation of payment services. Our vision encapsulates a payments system that continues to inspire trust and confidence and to support the economy in this dynamic, global context.”
The full agenda is available on the APC’s website.
