The Access Code
EFTPOS Access Australia Limited’s Access Code operates in conjunction with the EFTPOS Access Regime established by the Reserve Bank of Australia to facilitate access to the EFTPOS network.
To become a new entrant, and be eligible for membership of EFTPOS Access Australia Limited, an institution must:
- be a prudentially supervised ADI, a Self-Acquirer or a Switch;
- be able to comply with obligations in the Access Code and the CECS Manual within 12 months; and
- use the Access Code to establish 2 direct connections in 12 months and either a third in 36 months or a third and fourth within 12 months of each other.
There are a number of other eligibility requirements set out in Section 2.2 of the Access Code.
Institutions that meet the eligibility criteria are entitled to establish direct connections to members of EFTPOS Access Australia Limited. Membership also gives new entrants the following key benefits:
- connection costs that are no more than the amount prescribed by the RBA’s Access Regime (currently $78,000); and
- the certainty of the prescribed implementation process, in the Access Code.
As a member of EFTPOS Access Australia Limited, a new entrant also assumes certain obligations. These include sharing in the funding of EFTPOS Access Australia Limited's operations and establishing connections to other new entrants in the future.
Information on how to go about establishing direct connections is contained in the Introductory Guide to the EFTPOS Access Code (see link on the left).