Minimum capital requirements for purchased payment facilities providers
This page contains information regarding APRA's consultation on proposed changes to minimum capital requirements for purchased payment facilities (PPF) providers.
May 2023
On 19 May, APRA released a response to consultation on its proposed amendments to Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities (APS 610). The amendments align the minimum capital adequacy requirements for providers of purchased payment facilities with the broader capital framework for other APRA-regulated entities. This standard will commence upon registration on the Federal Register of Legislation, which APRA intends in early June. The amendment is an interim measure ahead of a broader review of APS 610.
The letter to industry and interim prudential standard can be found below:
Letter
Letter to PPF Providers: Response to submissions - minimum capital requirements for PPF providers
Prudential Standard
November 2022
On 14 November, APRA released a consultation letter to purchased payment facilities (PPF) providers on its proposed amendments to Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities (APS 610), to align the current minimum capital adequacy requirement for PPF providers with the broader capital framework for other APRA-regulated entities.
This proposal is an interim measure. APRA will provide an update on the planned broader review of APS 610 as part of its annual Policy Priorities update in early 2023.
APRA invites feedback on the proposed revisions to APS 610 by 14 February 2023.
The consultation letter is available below:
Letter
Consultation on minimum capital requirements for PPF providers
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.