One of APCA’s major initiatives for 2009 and beyond is development of the Community of Interest Network (COIN). The COIN is an industry-based response to the impending 'end-of-life' for existing x-25 based connectivity supporting the cheque, direct entry and card payment systems. (See First Quarter 2009 Payments Monitor.)
There are two major components of APCA’s work associated with the COIN. One is the development of the governance arrangements, procedures and rules including membership eligibility criteria and technical operating rules. The other is the migration of member traffic from their old physical connectivity to the COIN. Work on both is well underway.
Seven institutions comprising banks, non-bank service providers and payments processers, have already joined the COIN and at least another seven are expected to join in the coming months. APCA is working with stakeholders through a series of industry workshops, a COIN Management Committee, a migration project Steering Committee and Working Group to formalise migration plans, to help manage the transition and to provide ongoing management of the COIN Infrastructure System. Migration of live payments traffic to the COIN has commenced with completion expected in 2011-2012.
For further information on the COIN email rmagee@apca.com.au.