The Reserve Bank of Australia has issued a paper, Strategic Review of Innovation in the Payments System: Issues for Consultation. Submissions close on 31 August 2011.

The objective of the consultation is to identify areas in which innovation in the Australian payments system may be improved through more effective co-operation between stakeholders and regulators.

In conjunction with the consultation paper, the Bank is also releasing Strategic Review of Innovation in the Payments System: Results of the Reserve Bank of Australia’s 2010 Consumer Payments Use Study. This paper provides the results of the study of consumer payment patterns and attitudes conducted by Roy Morgan Research on the Bank’s behalf at the end of 2010.