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ACCC issues draft plan to help Australian payment processors scrap checks

( May 8, 2025, 03:59 GMT | Official Statement) -- MLex Summary: Australia’s antitrust watchdog has issued a draft determination that would allow Australian Payments Network and members of the Australian Paper Clearing System to engage in conduct that would support the government’s plan to phase out the use of checks for payments. In a draft determination, the Australian Competition & Consumer Commission, or ACCC, said the proposed conduct reflected the planned collaboration between the financial-services sector and government outlined in the Australian Treasury’s Cheques Transition Plan, which aims to cease the issuing of checks by June 30, 2028. The ACCC’s proposed authorization would remain in place until Dec. 31, 2030. The commission will accept feedback until May 23. The draft determination is attached and the full statement follows: ...

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