Shaping the future of payments
As a pioneer of payments innovation, Zepto is well positioned to engage with policy-makers and contribute to submissions and conversations modernising the future of payments regulation in Australia.
Policy Submissions & Participation
As the first non-bank fintech to connect directly to the New Payments Platform as a Connected Institution, and the first non-bank payments provider to become an Accredited Data Recipient under the Consumer Data Right, Zepto has a unique perspective on the challenges facing the payments industry, and is well positioned to provide valuable insights to policy-makers.
We are extremely proud of our submission work and engagement in this space. As our Public Policy Lead — Gabe Perrottet — reports, Zepto's public policy advocacy is having a real impact on the future of payments regulation in Australia.
You can see some of that work below.
Public Policy
SUBMISSION: Treasury’s consultation on Payments System Modernisation: Regulation of Payment Service Providers [CONFIDENTIAL - February 2024]
In late 2023, Treasury released its second consultation paper on payments licensing reform which contains the details of a proposed licensing regime for payments service providers (PSPs). Zepto was delighted to make a submission.
An overarching observation we made in response to this consultation paper is that the principle of “same activity, same risk, same regulation” is the key to achieving a level playing field in Australia’s payments industry. With this as a guiding principle, these reforms will be able to simultaneously deliver a safe and secure payments ecosystem and facilitate innovation and competition in the industry — enabling Australia to realise its potential as a world leader in payments innovation.
Zepto acknowledges the tremendous amount of work that Treasury put into producing a consultation paper of such sophistication, and welcomes the collaborative approach it has taken with industry in developing these reforms.
SUBMISSION: Treasury’s Consultation on Payments System Modernisation (Licensing: Defining Payment Functions) [July 2023]
You can read/download our entire submission HERE.
SUBMISSION: Treasury’s Consultation on Reforms to the Payment Systems (Regulation) Act 1998 (Cth) [July 2023]
You can read/download our entire submission HERE.
SUBMISSION: Treasury’s Consultation on the Strategic Plan for Australia’s Payments System [CONFIDENTIAL - February 2023]
Zepto welcomed the opportunity to make a submission to Treasury's consultation process on a strategic plan for Australia's Payment's System. As Australia’s leading innovator in bank-account-to-bank-account payments, we have a unique perspective on the key challenges facing the payments industry and what reforms need to be prioritised by Treasury so that Australia can fulfil its potential as a world leader in payments.
In this submission, we call out that the key principle for Treasury’s Strategic Plan for the Payments System should be “accessibility” and specifically to provide for common access requirements to Australia’s payments rails.
SUBMISSION ON CDR: Exposure Draft Legislation to Enable Action Initiation [October 2022)
Zepto welcomed the opportunity to provide a submission on the CDR exposure draft legislation to enable action initiation. The Consumer Data Right is a significant piece of digital infrastructure and action initiation plays a critical role in driving innovation and delivering better experiences and outcomes for consumers and businesses. Our Public Policy Lead, Gabe Perrotet, brought Zepto's voice to the Senate Committee — these are his recollections.
You can read/download our entire submission HERE.
AT THE TABLE: Digital Assets Roundtable with Senator Bragg
Zepto was invited to join Senator Andrew Bragg's Digital Assets roundtable discussion at the Senator's office in Sydney. We were delighted to be represented by Public Policy Lead, Gabe Perrottet, who brought our contributions to the lively discussion.
MORE >
Tech Council of Australia: Digital Assets Report
The Tech Council of Australia's Digital Assets in Australia report highlights the need for Australia to be a leader in responsible and trusted digital assets innovation. Having supported its production, Zepto attended the report's launch at Parliament House in Canberra. You can read more about it HERE.
Advocacy & Engagement
Public Policy Lead, Gabe Perrottet, proudly brought Zepto's voice to this House of Representatives Standing Committee on Economics hearing on the Inquiry into promoting economic dynamism, competition and business formation.
Following another success at the Business NSW Northern Rivers Business Awards, Zepto was invited to the Regional Leaders Business Forum and Q&A with the NSW Premier.
Given our humble beginnings in regional NSW, every now and then on our journey we have extreme pinch-me moments. Presenting to the Reserve Bank of Australia (RBA) and the Payments Systems Board was one of them.
Zepto’s Head of Government & Public Affairs, Emily Curlewis, reports from Parliament House in Canberra after attending a post-budget discussion with the Hon Senator Jane Hume — Minister for Superannuation, Financial Services and the Digital Economy — and the Hon Stuart Robert, Minister for Employment, Workforce, Skills, Small and Family Business.
Zepto headed to Canberra for the Tech Council of Australia’s Parliamentary Innovation Showcase at Parliament House. Our CEO Chris Jewell, Head of Government & Public Affairs Emily Curlewis, and our Events & Community Manager, Leanne Medeiros shared the Mural Room with some of the finest minds and success stories in Australian tech.
Thought Leadership
The Reserve Bank of Australia has released its Payments System Board Annual Report for 2023. In this article, we highlight a few data points that caught our eye, and hear from Chris Jewell about tackling fraud and scams.
Our public policy team has been busy making submissions to Treasury’s consultations on reforms to the regulation of payments in Australia. Zepto is excited to contribute to the development of reforms which will shape the future of Australia's payments ecosystem.
In early 2023, Zepto made a submission to Treasury's Consultation Process on a Strategic Plan for the Payments System. On 07 June, Treasurer Jim Chalmers presented the government's plan to the Australian Banking Association, kicking off generational reforms to payments in Australia.
After collecting the Excellence in Innovation gong at the Northern Rivers Business Awards, Zepto was crowned Business of the Year at Business NSW's 2022 Business Awards, advocating for the inclusion of regional start-ups in government procurement processes.
Ellis Connolly, Head of Payments Policy at Reserve Bank of Australia, delivered a speech at the AFR Banking Summit [28 March 2023] that shone a light on Australia's remarkable shift to electronic payments. Here are some key take-outs from that speech.
