Original article by Richard Gluyas
The Australian – Page: 21 : 24-Oct-14

A new payments platform enabling real-time processing of transactions is supposed to be rolled out with the help of the Australian banking sector by late 2016. However Westpac Banking and others have not yet approved the incorporation of a joint venture for the project, drawing sharp criticism from Reserve Bank of Australia governor Glenn Stevens. He told the 2014 congress of the Australian Payments Clearing Association that the central bank "would be duty-bound to consider a regulatory ­approach" if no progress can be achieved

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PAYMENTS CLEARING ASSOCIATION LIMITED, MORTGAGE CHOICE LIMITED – ASX MOC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB