Give feedback on draft legislation for a new regulatory framework for payment service providers.
What we are consulting on
We have released the full package of draft Tranche 1 legislation. It covers:
- definitions of regulated payment functions
- licensing obligations, including how certain providers must safeguard payment-related money
- exemptions and exclusions
- rules for unclaimed monies
- a new prudential framework
- a power to make rules for a mandatory and revised ePayments Code
- transitional arrangements
We have also released an early, partial draft of exemption and exclusion regulations.
Background
This release includes feedback from the Tranche 1a consultation. That consultation ran from 9 October to 6 November 2025. It covered core concepts and licensing obligations.
These form part of the payments licensing reform.
Submit your response
You must submit your response on this website.
Before you submit
To help you prepare your response, we recommend that you:
- read the supporting documents
- prepare your response in Word (DOCX or RTF) format, you can also upload PDF files as an alternative
- read our submission guidelines
- read our privacy policy
You must agree to our privacy collection statement to submit your response.
If you have any issues submitting your response, you can contact us.
