Did you know
New Zealanders make more than six million payments daily, estimated to be worth more than $35 billion each day.
The payments industry covers a wide range of organisations – from financial services to retail and technology suppliers.
The “system” transacts over $35 billion per day - that's the GDP of NZ every working week.
This, combined with the rate of change in payments technology, means it is critically important to have a central body, dedicated to establishing the best possible guidelines and rules of engagement.
In 2010, with the support of the Reserve Bank, Payments New Zealand was formed with a mandate to preserve the integrity of the payment system and maintain the self regulation status we currently enjoy in NZ.
With a relentless push for efficiency we are committed to ensuring everyone involved in payments in New Zealand has complete confidence in our payments system both now and into the future.