The Australian Gift and Prepaid Card Association (AGPCA) has lodged its submission to Treasury in response to the exposure draft of the Treasury Laws Amendment Bill 2025: Payments Systems Modernisation. These reforms propose significant changes to the licensing framework for stored value facilities, including gift cards, which could require service providers to obtain new licences and meet additional compliance obligations. AGPCA’s submission outlines the potential impacts on the prepaid industry, highlights areas where exemptions or clarifications are critical, and advocates for proportionate regulation that preserves consumer choice while addressing financial crime risk.
Download the full submission here