LogoRegulatory Alerts

Australia: fintech & payments regulation — 2026-07

Regulated

AFS licensing via ASIC; APRA regulates payment systems; strict AML/CTF via AUSTRAC

Frozen snapshot — the guide as it stood at the end of 2026-07. See the live guide for the current state.

Australia regulates fintech primarily through the Australian Financial Services (AFS) licence regime under the Corporations Act 2001, administered by ASIC. Entities providing payment services must also register with AUSTRAC for AML/CTF compliance. For systemic payment systems, the Australian Prudential Regulation Authority (APRA) imposes prudential standards and capital requirements.

Which licence do you need?

Your activityRequirementCapitalTimelineAuthority
Payment processing / gatewayLicenceAFS Licence[1]

Payment processing is a financial service requiring AFS licence

——ASIC
E-money & wallet issuanceLicenceAFS Licence[1]

E-money issuance is a financial service requiring AFS licence

——ASIC
Domestic money transferLicenceAFS Licence[1]

Domestic transfers are financial services requiring AFS licence

——ASIC
Cross-border remittanceLicenceAFS Licence[1]

Cross-border remittances are financial services requiring AFS licence

——ASIC
Agent networkLicenceAFS Licence[1]

Agent networks require AFS licence or authorization

——ASIC
Open banking / account informationLicenceAFS Licence[1]

Account information services require AFS licence

——ASIC
Foreign-exchange servicesLicenceAFS Licence[1]

FX services are financial services requiring AFS licence

——ASIC

New — what changed recently

  • 2026-04-21RG 1 Applying for and varying an AFS licence — Updated guidance on ASIC's approach to assessing AFS licence applications and required documentation.
  • 2026-04-21RG 104 AFS licensing: Meeting the general obligations — Clarified regulatory expectations for AFS licensees regarding general obligations under the Corporations Act.
  • 2026-04-21RG 166 AFS licensing: Financial requirements — Outlined financial requirements for AFS licensees, varying based on products and services offered.
  • 2026-04-21RG 105 AFS licensing: Organisational competence — Clarified criteria and standards for demonstrating organisational competence under the Corporations Act.

Market-entry checklist

  1. 1Apply for AFS LicenceSubmit application to ASIC under Corporations Act 2001, demonstrating competence and compliance.
  2. 2Register with AUSTRACRegister as a Money Service Business for AML/CTF compliance if handling payments.
  3. 3Establish Compliance ProgramImplement robust AML/CTF program and risk management framework as required by law.
  4. 4Secure Capital AdequacyEnsure sufficient financial resources to meet ASIC's financial requirements for AFS licensees.
  5. 5Consider APRA RegistrationIf operating a systemic payment system, register with APRA and meet prudential standards.

Sources

  1. RG 1 Applying for and varying an AFS licence · 2026-04-21