Payments NZ Chair Jim Quinn retires from Board

Payments NZ Board Chair Jim Quinn has advised the company he is stepping down from the Board, effective from 31 August 2024.

Merchants see weekend gains from seven-day payments

Retailers are banking gains from Aotearoa New Zealand’s move to seven-day payments, with an average of $200 million in EFTPOS payments settled to merchants each weekend over the system’s first year.

Commerce Commission draft determination a step towards simpler partnering in open banking

Our application, made by Payments NZ on behalf of the API Centre, banks and third parties, seeks permission to work with open banking stakeholders to make partnering simpler and more efficient.

Final call to replace 3.x EFTPOS devices

Payments NZ sets device lifecycle dates based on our device lifecycle framework. This framework is in place to ensure sensitive card data continues to be protected from unauthorised use by making sure EFTPOS devices use secure technology.

Submission to the Commerce Commission on designation of the interbank payment network

Payments NZ has made a submission on a proposal by the Commerce Commission Te Komihana Tauhokohoko to recommend designation of the interbank payment network under the Retail Payment System Act 2022.

Submission to the Commerce Commission on switching

Payments NZ has made an initial submission in response to the Commerce Commission’s market study draft report on personal banking services, which was published on 21 March 2024.

Payments NZ reminds merchants of EFTPOS hardware upgrade deadline

Payments NZ is reminding merchants to check the age of their EFTPOS terminals as an important deadline for upgrading older models approaches. Any devices running on the PCI 3.x standard will no longer be compliant after 30 June 2024, leading to their disconnection from Aotearoa New Zealand’s payment network.