Australian payments system is financial plumbing for the Australian economy. It comprises the payments instruments, organisations, technology and connecting networks that are used to make non-cash payments. APCA has a pivotal coordinating role in the payments system. Its various clearing and infrastructure systems provide rules and decision-making frameworks necessary for the efficient movement of funds amongst financial institutions and other payments providers.
This year, Australia’s payments system moved around $150 billion a day across the economy for consumers, businesses, government and non-profit organisations. More than 99% of this value was transferred using APCA’s frameworks. A detailed explanation of the APCA systems, as well as other systems managed separately including the various card schemes’ systems and the BPAY system, is available on the APCA website.