The payments industry should be in a position to deliver least cost routing functionality for mobile wallet transactions by the end of 2024, the Payments System Board said yesterday. The PSB has requested that mobile wallet providers inform industry of the designs of their LCR solutions as soon as possible. It also said it expects that merchant choice of debit network will be the default setting in the mobile environment, although it would like to see consumers have some ability to choose their preferred debit network. Tyro Payments chair David Thodey has announced his resignation from the company’s board and will step down in February next year. Thodey, who has been Tyro chair for three years, said he was moving on to take up new opportunities. Fiona Pak-Poy, a Tyro board member and chair of the people committee will be the new chair. Pak-Poy is an engineer who worked as a strategy consultant with Boston Consulting Group in Australia and the US. She has also worked in the venture capital industry. She is currently a non-executive director of Booktopia Group and Kain Lawyers, and is a trustee and investment committee member of HMC Capital Partners Fund 1.