Inquiry into Schemes, Digital Wallets and Innovation in the Payments Sector

Terms of Reference

The House of Representatives Standing Committee on Economics will inquire into matters relating to current digital payment schemes and emerging technologies, and report on:1. Card based payment schemes and digital wallets and whether the current payment schemes landscape is fair and accessible, including:a) transparency and affordability of scheme fees for payments services providers;b) the inequity of payment costs for small businesses;c) the extent to which consolidated market power between payment schemes has impacted choice and accessibility to alternative payment systems.2. New and emerging payment technologies in the payments space, including but not limited to:a) digital currency and blockchain technology;b) account to account-based payments;c) opportunities for Australia to increase competition and consumer choice, and decrease fees in the digital payment processing industry;d) any other matters. Committee SecretaryStanding Committee on EconomicsPO Box 6021Parliament HouseCanberra ACT 2600Phone:(02) 6277 4587economics.reps@aph.gov.au