On 6 April 2020, Australian Payments Network Limited (AusPayNet) (formerly the Australian Payments Clearing Association) applied for revocation and substitution of authorisations A91497 and A91498, concerning the certification, suspension, and termination provisions of the Issuers and Acquirers Community (IAC) Regulations and Code Set. The IAC framework is a payment clearing and settlement system created by AusPayNet to set minimum standards for conduct and settlement procedures for transactions between banks carried across ATM and card payment networks (including Visa, Mastercard, American Express and eftpos).
The IAC and preceding frameworks have been authorised by the ACCC since 2000, and was last reauthorised in 2015. AusPayNet has applied for reauthorisation for another five years.
A full copy of AusPayNet’s application for authorisation is below.
On 5 June 2020, the ACCC issued a draft determination proposing to grant authorisation.
On 10 July 2020, the ACCC issued a determination authorising the Proposed Conduct until 1 August 2025. The determination is available below.
|Application Received ( PDF 7 MB )||6 Apr 2020|
|Final Determination ( PDF 416.47 KB )||10 Jul 2020|
|Draft Determination ( PDF 418.58 KB )||5 Jun 2020|
|ACCC to Interested Parties re Draft Determination ( PDF 232.95 KB )||5 Jun 2020|
|ACCC to Interested parties re Consultation Process ( PDF 313.38 KB )||16 Apr 2020|
|ACCC to Interested Parties re Final Determination ( PDF 225.39 KB )||10 Jul 2020|
Submissions - before draft decision
|Eftpos Payments Australia ( PDF 1.9 MB )||7 May 2020|
|Reserve Bank of Australia ( PDF 117.75 KB )||6 May 2020|
|Australian Banking Association ( PDF 93.84 KB )||6 May 2020|
|Commonwealth Bank of Australia ( PDF 214.53 KB )||20 Apr 2020|
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