Payments/NZ
New Zealand
ISO NZ · 3 schemes
Summary
- Payap QR instant payment (2024)
- Dosh first local digital wallet
- Click real-time payments
- Open banking QR enabled
- ANZ FastPay merchant solution
Banking landscape
Central Bank
- Name: Reserve Bank of New Zealand (RBNZ)
- Website: https://www.rbnz.govt.nz/
- Role: Monetary policy, financial stability
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | ANZ New Zealand | Big Four | ANZ goMoney |
| 2 | ASB | Australian | ASB Mobile |
| 3 | Westpac NZ | Australian | Westpac App |
| 4 | BNZ | Australian | BNZ App |
| 5 | Kiwibank | State | Kiwibank App |
Market Structure
- Australian owned: Big banks
- Kiwibank: Local state bank
- Paymark: Payment infrastructure
- Fintechs: Growing sector
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Click | Paymark/Worldline | Real-time | Active |
| Payap | Fintech | QR instant | 2024 |
| EFTPOS NZ | Banks | Debit | Active |
| Card networks | Visa/MC | Cards | Active |
Click Platform
- Real-time payments
- Paymark operated
- Worldline owned (2018)
- Bank integration
- Faster settlements
Payap (2024)
- QR code payments
- Open banking powered
- Lower merchant fees
- Instant bank transfers
- Dynamic QR on terminals
QR code standards
Payap QR
| Attribute | Value |
|---|---|
| Launch | 2024 |
| Feature | Scan EFTPOS terminal |
| Technology | Open banking |
| Cost | Lower than cards |
Payap Features
- Scan QR on terminal
- Instant bank transfer
- Contactless cashless
- Reduced merchant fees
- Real-time settlement
Dosh QR
| Attribute | Value |
|---|---|
| Type | Digital wallet |
| Feature | P2P + merchant |
| First | NZ-owned wallet |
| Users | Young demographic |
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Payap | Fintech | Yes | Instant payment |
| Dosh | Dosh | Yes | Wallet |
| ANZ FastPay | ANZ | Yes | Merchant |
| ASB App | ASB | Yes | Consent QR |
Dosh Features
- Mobile number payments
- QR code generation
- In-store QR pay
- Instant transfers
- First NZ-owned wallet
Bank QR Features
- ASB: QR consent setup
- ANZ FastPay: Card reader
- BNZ: Payment innovations
- Open banking integration
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Payap | QR instant | Open banking | 2024 | payap |
| Dosh | Wallet QR | P2P | Active | — |
| Click | Real-time | Paymark | Active | click |
Sources
Full country report
Schemes
Standards
Mentioned · 1