Unnecessary costs would be loaded onto innovative companies if the government followed the Productivity Commission's advice and established a formal access regime for the new, real-time payments system, according to Cuscal.
Backing the Reserve Bank of Australia's rejection of the recent PC recommendation, payments giant Cuscal says the current governance arrangements for the "new payments platform" (NPP) are sufficient to connect technology players to the system.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
