Australian Payments Plus (AP+) yesterday hosted its third Payment Service Provider (PSP) forum. Chaired by AP+ Independent Director, Greg Cooper, discussions focused on ConnectID and the role PSPs will play and the Federal Government’s Strategic Plan for the Payments System.
ConnectID seeks to complement capabilities developed by state and federal governments to deliver a whole-of-economy service in a supporting ecosystem and will manage a highly interoperable network of participants to enable the secure exchange of digital identity attributes – always and only with the express authorisation and consent of the individual.
The forum looked at international examples from Germany, Canada and Scandinavia. Across the world, bank-led consortia approaches on Digital Identity have been some of the most successful.
The ConnectID solution is designed to enable diverse use cases including core identity verification (sign up), access and authentication (sign in), and authorising payments (sign off), resulting in benefits such as decreased fraud, improved compliance and operational efficiency.
Also on the agenda was the Federal Government’s Strategic Plan for the Payments System. Topics for discussion included prioritisation, Treasury Payment System Review, least cost routing (LCR), the Consumer Data Right (CDR), and digital identity solutions.
AP+ established the Payment Service Provider forum last year to bring the community together and hear from a range of PSPs to ensure AP+ has a sound understanding of the issues, concerns and future needs of providers and related organisations across Australia.
Our thanks go to our in-person and remote attendees for their participation:
Greg Cooper (Chair and Independent Director of AP+), James Foster (Ezypay), Jason McAllister (Stripe) Carlo Lacota (Giesecke and Devrent), Simone Joyce (Paypa Plane), Chris Hurst (Fat Zebra), Christian Westerlind Wigstrom (Monoova), Tom Rundle (Azupay), Tony Crudgington (Global Payments Australia), Julia Bearzatto (Zepto), Cameron Ross (Bleu Australia), Lynn Kraus, Adrian Lovney, Katrina Stuart, Troy Thornton, Liz Fong, Jun Quille, Tim Fagan, Andrew Black (AP+).