On 24 September, the Australian Council of Financial Regulators (CFR) published an Issues Paper Review of Retail Payments Regulation: Stored-value Facilities, which reviews the regulatory regime of stored-value facilities including purchased payment facilities.  The CFR comprises RBA, APRA, ASIC and the Treasury.

ASIC states that the Issues Paper is part of a review into the regulatory regime for ‘stored value facilities’, which are payment products that allow users to pre-load money for future purchases (such as a travel money card).

Stakeholders are invited to provide written submissions to the CFR by 19 October.