Australian Payments Network Limited – Bulk Electronic Clearing System

Australian Payments Network Limited (AusPayNet) sought revocation of authorisations A91473 and 91474 and their substitution with authorisation AA1000678. The authorisation concerns the termination and suspension provisions in the Bulk Electronic Clearing System (BECS) Regulations, which were previously authorised in 2015. The current authorisations were due to expire on 24 April 2025.

AusPayNet manages and develops regulations, procedures, policies and standards governing various payments clearing and settlement systems in Australia, including BECS.

BECS is a system for managing the conduct of the exchange and settlement of bulk electronic low value transactions. BECS covers direct entry payments. The direct entry system allows approved organisations to make arrangements with their financial institution to debit or credit large numbers of customer accounts on a regular basis.

The BECS Regulations contain provisions concerning the corporate governance of the system, including membership criteria, suspension and termination provisions, settlement and dispute resolution, amongst other matters. Only the suspension and termination provisions are the subject of this application.

AusPayNet sought authorisation for 10 years.

On 5 December 2024, the ACCC issued a draft determination proposing to grant authorisation.

On 12 February 2025, the ACCC issued a final determination revoking authorisations A91473 and A91474 and substituting authorisation AA1000678 for 10 years, until 29 August 2034.

The ACCC’s final determination, draft determination and the application for authorisation are available below.