On Thursday, Australia passed significant amendments to the Payment Systems (Regulation) Act 1998 (Cth) (PSRA) to modernise the regulatory framework for the country’s payments ecosystem. The changes, introduced through the Treasury Laws Amendment (Payments System Modernisation) Bill 2025, expand the powers of the Treasury and the Reserve Bank of Australia (RBA) to designate, oversee and regulate payment systems.
Authors:
Steven Pettigrove, Partner
Email: spettigrove@piperalderman.com.au
Luke Higgins, Associate
Email: lkhiggins@piperalderman.com.au
Tahlia Kelly, Law Graduate
Email: tkelly@piperalderman.com.au
Emma Assaf, Law Clerk
Email: eassaf@piperalderman.com.au