Sydney, 2 August, 2007: The Australian Bankers’ Association (ABA) and Australian Payments Clearing Association (APCA) are currently considering options for establishing a centralised commercial governance structure responsible for the promotion and development of the EFTPOS system.

The current governance system for EFTPOS can make investment coordination more difficult. Our research, in relation to payment systems governance shows that centralised governance structures have greater potential for coordination of investment to foster innovation and promotion. The Reserve Bank of Australia has also raised this as a policy issue.

In recent years, the ABA and APCA have been researching issues relating to payment systems governance. As a result of this work, both ABA and APCA believe there is merit in moving to the stage of developing a proposal for a commercial scheme to operate the EFTPOS system..


For further information:

Felicity Glennie-Holmes
ABA PR
Phone: 02 8298 0411
Mobile: 0412 673 038