Some of these companies already play a material role in facilitating payments and I expect that we will see further innovation in these areas. This rapid change in the world of payments has brought with it increased community and political interest in payments. I expect that this interest will intensify, rather than diminish, given the importance of the issues to the community.
These issues include: 1. How to ensure that banknotes remain widely available for those who want to use them. As part of this, the RBA is currently undertaking a public consultation on banknote distribution arrangements. 2. How to keep downward pressure on the cost of electronic payments, particularly for small merchants.