The BSP—as overseer of the payments system—likewise endeavors to provide an enabling environment for a safe, reliable, affordable, interoperable, and efficient retail payments system in the country. In fact, even before the pandemic, we had advocated for the shift to a more cash-lite economy through increased use of digital payment platforms under the National Retail Payment System Framework or NRPS.
Source: ABS  Looking ahead With that assessment of the past, let me turn then, very tentatively, to the future. I have already noted that Australia's trend growth rate has probably slowed a little. The demographic effects that are working to slow it are likely to continue over the coming decades.