On Feb. 19, 2025, AST Pay said the interim authorization above enables AST Pay to start the preparatory work needed for a coordinated wind-down of checks system.
It has accordingly formed work program to achieve this outcome; updates will be given regularly to Australian Paper Clearing System (APCS) members and key stakeholders.
AST Pay also said the final determination by the AST CC is expected in Apr. 2025.
On Dec. 18, AST CC issued interim authorization re checks phase out.
AST CC granted interim authorization to AST Pay and paper clearing system members to begin check system wind down, allowing them to take initial transitionary steps.
Authorization permits coordination between payment system participants to implement AST GVT's planned transition; however, full authorization application still under review.
Follows AST GVT Nov. 2024 released transition plan to phase out checks, #233636.
Feb. 2025 AST Pay on Interim Authorization
On Feb. 19, 2025, AST Pay said the interim authorization above enables AST Pay to start the preparatory work needed for a coordinated wind-down of checks system.
It has accordingly formed work program to achieve this outcome; updates will be given regularly to Australian Paper Clearing System (APCS) members and key stakeholders.
AST Pay also said the final determination by the AST CC is expected in Apr. 2025.
