The vision for account-to-account payments in Australia

A2A vision > Delivering the A2A payments vision 

6 Delivering the A2A payments vision 

6.1 A2A payments roadmap   

The A2A payments vision defines the desired end-user outcomes and system characteristics required of the future A2A payments system. It does not prescribe the specific implementation approaches, products, services or underlying infrastructure through which these outcomes will be delivered, nor the timeframe over which they would be implemented or the parties responsible for delivering them.

Developing a clear A2A payments roadmap is the critical next step towards achieving the A2A payments vision. The roadmap phase will translate the vision into an agreed industry direction that defines the way forward for the design and development of A2A payments infrastructure, capabilities and standards. The key steps in the roadmap phase include:

1. Align on specific objectives and priorities for the A2A payments system – the desired future state – that is consistent with the vision, taking into account the current state of A2A payments
2. Identify and assess the options available to industry to deliver the desired future state
3. Determine the sequencing of initiatives and the governance arrangements required to deliver the desired future state over specific time horizons  

The A2A payments roadmap phase will seek to establish shared positions, or where this is not possible, articulate options and trade-offs, in relation to:  

• Resilience, contingency and interoperability requirements for A2A payments infrastructure
• Capabilities required to support key payment use cases  
• The future of clearing and settlement arrangements
• Future-readiness and extensibility, including how the system can support emerging technologies, payment models and use cases over time
• Payments security, fraud prevention, consumer protection and dispute resolution arrangements
• Areas where standardisation would be most beneficial, together with associated governance arrangements
• Access and participation frameworks, including for non-ADI participants, smaller providers and emerging business models
• Investment and funding considerations

Proprietary plans for the individual A2A clearing schemes, including BECS and NPP, will also be included.  

The A2A payments roadmap will encompass: 

• in-principle agreements on key milestones for infrastructure, capabilities, standards, and where appropriate, products and services, and the implementation timelines and transition approaches for achieving the desired future state.
• identifying shared risks and key dependencies.
• developing appropriate mechanisms to balance any competing priorities and trade-offs.
• establishing success measures for acheiving the A2A payments vision over agreed time horizons, with transparent monitoring and reporting processes. 
• clarifying the roles and responsibilities of key stakeholders in delivering the desired future state, including industry participants and those of the public sector.
• identifying the governance and coordination arrangements required, at both an industry-wide and clearing scheme level, including in relation to consultation and reporting mechanisms, and the development of standards. These arrangements will be consistent with applicable competition law requirements.  

With an overarching A2A payments roadmap in place, banks and PSPs will be able to develop and deliver proprietary plans for their own products and services, customer propositions and technology investments, retaining their flexibility to innovate and compete independently.

6.2 Guiding principles for managing trade-offs

As explained in Section 4.7 above, acheiving the A2A payments vision will involve balancing multiple objectives and diverse interests that, at times, may pull in different directions. To navigate these trade-offs while preserving alignment with the overall A2A payments vision, a set of principles should guide decision‑making and prioritisation. The following principles have been identified, although additional principles may emerge during the A2A payments roadmap development and consultation with industry and end-users:

• Focus on end-user outcomes. Trade-offs should be resolved in ways that sustain or improve outcomes for end-users during the transition to the desired future state.  
• Collective stewardship. Where trade-offs affect shared infrastructure or systemic goals, decisions should be shaped through coordinated industry governance mechanisms, ensuring no participant optimises decisions for their own interests at the expense of the system as a whole.
• Adaptable over time. As technology, market structures, and end-user expectations change over time, resolutions to prior trade-offs may need to be reviewed to ensure continued alignment with the A2A payments vision. Where appropriate, decisions should favour approaches that preserve future flexibility and optionality. 

6.3 Measuring success 

Linking the achievement of the A2A payments vision to measurable outcomes is essential for tracking progress and identifying where further action is needed to improve effective delivery.  

Success measures should include both quantitative metrics and qualitative outcomes over agreed time horizons, which can be regularly reviewed. Establishing success measures for achievement of the A2A payments vision as part of the A2A payments roadmap will ensure the metrics are appropriate and encourage industry commitment. 

Embedding transparent monitoring and reporting within the industry’s governance model will strengthen confidence whilst giving due consideration to cost-benefit trade-offs to ensure that monitoring and reporting requirements do not become overly burdensome. 
 

6.4 Stakeholder engagement and education  

Effective stakeholder engagement is critical to achieving the A2A payments vision. Progress will depend on close collaboration, transparent consultation, and broad buy-in across the A2A payments system – from banks, fintechs, other payment service providers and regulators to consumers, businesses, and government agencies. The roadmap phase will be supported by governance arrangements established through the A2A Payments Roundtable, including: 

• A Roundtable Participant Committee representing financial institutions and infrastructure participants, responsible for providing input on system requirements, capability priorities, implementation considerations, trade-offs and A2A payments roadmap development.
• Voice of the Customer and Stakeholder forums comprising representatives from government agencies, business, industry associations, consumers and service providers, to provide end-user and stakeholder perspectives on key matters relating to the roadmap development, including adoption considerations.

Together, these forums will provide structured mechanisms for stakeholder input, challenge and feedback, helping ensure roadmap decisions reflect system requirements, diverse end-user and stakeholder perspectives and evolving market realities.  

For end-users, clear and consistent education about the A2A payments vision, A2A payments roadmap, and the evolution of A2A payments products and services will build awareness and understanding. Banks, fintechs, and other payment service providers should take an active role in translating the A2A payments vision and A2A payments roadmap into clear messages that help consumers, businesses, and government agencies understand upcoming changes and opportunities. Coordinated public awareness campaigns, supported by industry and regulators, can ensure consistent messaging, reduce confusion during transition periods, and foster informed participation in the A2A payments system as it evolves.