Research Paper Number

25/2014

Document Type

Article

Publication Date

2014

Keywords

Law; Money; Payment; Value; Banking

Abstract

In discussing the final report of the Task Force for the Payment System Review, Bradley Crawford observes that "[t]he most significant achievement of the Report is the breadth of its vision." I agree and endorse the tenor of his analysis. These comments look to the implementation of the Report in relation to access. On that point, the Task Force recommended the adoption of federal legislation to "[d]efine a discrete payments industry and require payment service providers to become members." Using as my baseline the Canadian present access regime and the changes envisaged by the Task Force, I will discuss the provisions on the subject in selected developed nations, i.e., the European Union (EU), Australia and the United States. I will address access regimes for both payment service providers and for payment and clearing systems.

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