You can see the rules and regulations in other jurisdictions.
Payment services may be regulated as financial services where they relate to ADI deposit-taking facilities or NCP facilities.1
NCP facility service providers must hold an AFSL or be exempt from this requirement. ASIC has outlined numerous AFSL exemptions, including NCP specific exemptions (e.g., gift vouchers and loyalty schemes).1
The Australian government has undertaken a raft of regulatory reviews focused on Australia's payments systems. While still subject to industry consultation, many of the recommendations focus on reshaping the regulatory regime to capture integrated payments models, as well as expanding the definition of PPFs to capture a broader range of stored value facilities.1
You can launch your platform by paying $5000 initially and the rest after 6 months if your business grows