AP+ held its final Payment Service Provider (PSP) Forum for the year on 4 November 2024. Chaired by Greg Cooper, independent AP+ director, the forum provided an overview of the ongoing work including the move to the NPP, fraud and scam protection, merchant tokenisation.
The forum heard about the new call to action initiated by AP+ to support preparations for the decommissioning of the Bulk Electronics Clearing System (BECS) - Australian Payments Future. The program of work extends across a number of initiatives including the retirement of cheques, direct debits moving to PayTo, Payday super and Confirmation of Payee.
AP+ reported on its engagement with the ATO and other key stakeholders to support the government's Payday Super initiative, with the industry recognising the National Payments Platform (NPP) as critical in enabling business to meet their Payday Super requirements.
A key topic of discussion included the industry's agreement on the critical issues surrounding bulk payments on the NPP. The forum highlighted recent progress and collected feedback on foundational requirements.
AP+ is making significant progress with tokenisation solutions. Feedback was received on Token Requestor Onboarding, Token Portability, and Payment Account Reference (PAR).
The forum provided an update on eftpos Click to Pay (C2P) which offers several benefits, including streamlined guest checkouts, higher merchant conversion rates, and seamless synchronisation across customers' devices. The next steps involve engaging with the industry and participants to optimise the consumer checkout experience and align on the roadmap.
The forum heard about the AP+ role in combatting frauds and scams in Australia’s payments system. The best insights are gained at the network level, examining the data that passes through the schemes, to enable greater fraud and scam protection and prevention. We shared AP+’s fraud management mission and product strategy upon which we are consulting with the ecosystem and listened to feedback from PSP Forum members on this.
AP+ looks forward to continuing the discussion on these key topics at the next forum.
Our thanks go to our in-person and remote attendees for their participation: Greg Cooper (Chair, AP+ independent Board member), Steve Price (MYOB), Tony Crudgington (Global Payments), Raky Pathak (Merchant Warrior), Jason McAlister (Stripe), Tim Stanley (Monoova), Chris Hurst (FatZebra), Danielle Smith (Xero), Simone Joyce (Paypa Plane), Lynn Kraus, Adrian Lovney, Liz Fong, Dave Hemingway, Katrina Stuart, Marnie Ryan, Tim Fagen, Colin Sultana, Michelle Trundle, Naomi Nixon, Jacob Taylor, Sofia Walsh, George Lawson, Sasha Slevec, Dean Witheridge (all AP+).
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