Treasury Laws Amendment (Payments System Modernisation) Bill 2025

"The Treasury Laws Amendment (Payments System Modernisation) Bill 2025 has been introduced by the Parliament of Australia on 30/07/2025." This bill aims to modernise the payments system regulation in Australia, expanding coverage to new and emerging payment systems and participants. The amendments introduce civil penalty provisions, enforceable undertakings, and increased maximum penalties for certain criminal offences, impacting the banking and financial services industry significantly. Compliance considerations include the designation of new payment systems and revised regulations for existing ones, requiring institutions to adapt to these changes promptly.