RBA Update on BECS Decommissioning Recommendations

RBA Media Releases

Published March 10th, 2026

Detected March 13th, 2026

Summary

The Reserve Bank of Australia (RBA) has released an update on industry progress regarding the decommissioning of the Bulk Electronic Clearing System (BECS). While acknowledging industry efforts, the RBA notes that risks persist due to a lack of consensus on the future of account-to-account payments.

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What changed

The Reserve Bank of Australia (RBA) has issued an update regarding the proposed decommissioning of the Bulk Electronic Clearing System (BECS). The RBA acknowledges the payments industry's efforts over the past year to implement recommendations from its risk assessment, noting that nearer-term risks associated with a disorderly transition have largely subsided following AusPayNet's removal of the June 2030 target end-date. However, the update highlights that several risks remain, and new ones have emerged, primarily due to insufficient industry consensus on the modernization agenda for account-to-account (A2A) payments, particularly concerning bulk payment processing.

This lack of consensus is impeding effective decision-making and risks stalling the momentum for A2A payment modernization. The RBA indicates that if industry participants cannot make coordinated progress, it would consider taking further action to protect the public interest. Regulated entities involved in the Australian payments ecosystem should be aware of these ongoing challenges and the RBA's potential intervention if progress is not made.

Source document (simplified)

Media Release Proposed Decommissioning of the Bulk Electronic Clearing System: RBA Risk Assessment Update

Number 2026-07 Date

10 March 2026

The Reserve Bank of Australia today released an update on the progress made by the payments industry
over the past year against the recommendations outlined in the Risk
Assessment into the proposed decommissioning of the Bulk Electronic Clearing System (BECS).

The RBA welcomes industrys efforts over the past year to implement the recommendations from the
Risk Assessment, particularly in relation to increased industry coordination and direct engagement
with end users. In December 2025, AusPayNet announced that it was removing the target end-date of
June 2030 for BECS until a clear roadmap has been developed for the future of account-to-account
(A2A) payments in Australia. As a result, the nearer-term risks associated with a disorderly
transition away from BECS have largely subsided.

Nonetheless, the RBAs Risk Assessment Update highlights that several areas of risk persist, and
others have emerged to be more prominent. Key stakeholders across the A2A ecosystem have highlighted
insufficient consensus within industry about the A2A payments modernisation agenda, particularly on
how to best to process bulk payments in the future. This is impeding the effective decision-making
and analysis needed to establish a path forward for A2A payments. As a result, industry risks losing
the necessary momentum to modernise A2A payments. If industry participants are unable to make
coordinated progress on modernising A2A payments, the RBA would take further action to achieve
outcomes in the public interest.