Media Release Review of Retail Payments Regulation – Postponement

In light of the current extraordinary circumstances associated with the impact of COVID-19, the Reserve Bank is putting on hold the Review of Retail Payments Regulation that was announced on 29 November 2019.

Whereas the Bank had previously expected that the Review would be completed by late 2020, we now expect that it will be completed in 2021. This decision is intended to reduce the demands on industry stakeholders at a time when they are focused on dealing with the impact of COVID-19. Bank staff will continue to do background work on the Review as resources permit and remain available to speak with stakeholders as required.