Tony Richards will take over as head of payments policy at the Reserve Bank of Australia. Richards is head of economic analysis at present.Richards replaces Christopher Kent, who the RBA has promoted to the position of assistant governor (economic). Kent, in turn, replaces Philip Lowe who will become deputy governor on February 14.The payments policy division of the RBA is working on its final report of the review of innovation in the payments system, a document likely to be approaching completion.