Submission to RBA Issues Paper - 7 Aug 2026

In June the RBA's payments policy team issued their latest issues paper seeking feedback from the industry on a range of topics across account-to-account payments, agentic payments, mobile payments etc under the considerations of competition, efficiency and financial safety. PDI made a submission specifically to argue for a fundamental reform of Australia’s dispute resolution mechanics - across payment rails. With first-party fraud driving significant economic loss - which we estimate, based on a back-of-napkin assessment due to a lack of official reporting, to be in excess of $1 billion annually by 2028 - this submission highlights the urgent need to move beyond outdated, inconsistent, and one-sided chargeback rules. We propose a new, standardised framework that ensures consistency across issuers and restores the integrity of the payments landscape.