This policy describes the requirements for entities planning digital investments involving payments.
Applicability
Digital investment proposals are assessed against this policy by the DTA through the Digital and ICT Investment Oversight Framework (IOF).
Commonwealth entities are encouraged to apply this policy to all digital investments.
Policy requirements
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Comply with legislation
An entity must comply with any legislation relevant to its circumstances.
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Understand alignment to payment archetypes
Payment systems can be grouped into archetypes. Alignment to one of the eight architypes listed in the standard will provide a focal point for identification of previous investment and assessment of solution suitability.
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Prioritise standardisation and interoperability
Following standard payment methods or taxonomies allows greater performance and interoperability.
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Ensure security and fraud prevention
Stringent security measures, including encryption, access controls, and monitoring to detect and prevent fraud, are critical to the safeguarding of payments and related data.
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Set payment timelines and prompt payment standards
Clear timelines for processing payments promotes prompt payment to and by individuals and businesses. Entities may establish procedures for expedited processing of payments in emergency situations, where immediate funds are required, such as during natural disasters.
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Ensure, and report on, transparency
Transparency in the payment processes, including clear documentation and communication of payment terms and conditions, is critical to build trust and give confidence in payment recipients.
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Engage stakeholders and consider user experience
Prioritising accessibility, ease of use, and support for multiple payment methods will ensure payment systems are designed with the end-user.
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Prioritise simplicity, sustainability, scalability, and emerging trends
The developing of long-term strategies for the sustainability and scalability of payments solutions will accommodate future growth and technological advancements. Entities should prioritise the simplification of payment processes, with a defined transition strategy to digital payment platforms.
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Adhere to reuse principles
Entities must give priority to the adoption of reuseable digital and ICT solutions, patterns, or knowledge, and, where necessary, design new solutions with a focus on future reuse.