The new Chair of the ACCC, Gina Cass-Gotlieb, has stated that one of the ACCC’s key compliance and enforcement priorities for 2022/23 is promoting competition and investigating allegations of anti-competitive conduct in the financial services sector.
In a speech to the Australian Financial Review Banking Summit on 31st May, the Chair singled out payments in particular, noting the new services and competitors in the payments ecosystem, such as payment gateways, payment aggregators, mobile wallet providers and payments using crypto-currencies. Other priorities for the competition regulator are digital payment platforms, disrupting scams and CDR.
The full speech is available here.
