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Payments NZ Participants exchange payments directly with other Participants in one or more of the Payments NZ clearing systems. Direct participation in a clearing system is an efficient and cost effective way to exchange payments, and avoids the need to conduct transactions through third parties.

All Participants must be party to a multi-lateral participation agreement, which requires Participants to comply with the Payments NZ Rules and Standards. Prospective Participants will receive a copy of the Rules and Standards as part of the joining process.

Benefits of Participation

As a Participant in a clearing system you will have:

  • The certainty and efficiency provided by having one set of multilateral payment rules and procedures that Participants must comply with, and can rely on.
  • A role in the governance of the clearing system you participate in by having a representative on the Management Committee responsible for that clearing system.
  • Involvement in the development of the Rules and Standards governing how the clearing system operates.
  • Efficient resolution of industry issues and regulatory requirements through collective negotiations and work efforts.
  • Access to Payments NZ events including the View, the Outlook and The Hub.

Access Rules and Criteria

Before your organisation can become a Participant, you must be able to comply with Payments NZ’s access criteria. The access criterion are designed to encourage participation while at the same time maintaining the safety and integrity of the payments system. The access criteria are set out in the documents [below]. If you have any questions, or you would like to begin the joining process, please contact us.

Access Documents:

pdf.png  The Access Rules specify the criteria your organisation must satisfy to join a clearing system and explains the joining process.

pdf.png  The Access Procedures provides more detailed information on how to satisfy the access criteria and the joining process for each clearing system.

Application Process:

The application process generally begins when a potential applicant tells Payments NZ informally that it is interested in participating in a clearing system. Payments NZ will then work with the potential applicant to help them decide whether to make a formal application to participate. Payments NZ will provide the applicant with a copy of the clearing systems documents that relate to the clearing system for which they have applied.

Once you have received the requisite information from Payments NZ you will be in a position to make an application. You will be required to provide particular information with your application as set out in Payments NZ’s Rules and Standards.

We recommend you contact us before beginning your application.


If you are applying to join Payments NZ’s clearing system(s), you will need to successfully complete systems tests before you can begin participating in the clearing system. Please contact us for more information about the testing requirements.


NOTE: The information on the web page, and the documents attached, are for information purposes and should not be taken as legal advice. As our rules do change from time to time we advise you to contact Payments NZ Limited before relying on this information in any way. If you have any questions about your application or the application process, please contact us.

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