The Australian Competition and Consumer Commission issued a draft determination proposing to grant authorisation AA1000699 to Australian Payments Network Limited and current and future members of the Issuers and Acquirers Community to coordinate aspects of a program of work to migrate the Australian card payments system from Triple Data Encryption Standard to Advanced Encryption Standard, including limited information sharing to support delivery. The proposed authorisation would allow the parties to make and give effect to agreements on specified elements of the migration program and to share information to monitor progress, report issues, and develop solutions, solely for the purpose of facilitating the move to Advanced Encryption Standard. The ACCC noted that while Triple Data Encryption Standard is considered fit for purpose in the short term, Advanced Encryption Standard is generally regarded as faster, more efficient and more secure, making it a more suitable medium to long term option. Submissions on the draft determination are due by Friday 29 August 2025, after which the ACCC will make a final decision.
Australian Competition and Consumer Commission 2025-08-14
Australian Competition and Consumer Commission proposes eight-year authorisation for AusPayNet members to coordinate card payments migration from Triple DES to Advanced Encryption Standard
The Australian Competition and Consumer Commission issued a draft determination proposing to authorize Australian Payments Network Limited and members of the Issuers and Acquirers Community to coordinate migrating the Australian card payments system from Triple Data Encryption Standard to Advanced Encryption Standard, including limited information sharing. Submissions on the draft determination are due by 29 August 2025, after which a final decision will be made.