The modern consumer expects real-time experiences, instant fulfillment and the ability to pay for everyday items using their mobile phones. In fact, 26% of consumers in New Zealand report using a mobile wallet in the last year. This has forced banks to evolve and modernize their payment systems, as well, which has led to an increased focus on the cloud. 83.3% of banks across New Zealand report prioritizing Software as a Service as a model.
Clearly, New Zealand’s payments ecosystem is experiencing a large amount of change in a very short amount of time. Fortunately, New Zealand is not alone in this respect.
Globally, rapid modernization has revolved around real-time payments, which are set to account for a quarter of electronic payments globally by 2026.
While New Zealand is one of the few countries that does not have an established domestic real-time payments system in place, there is still much to be learned from the approaches and solutions enacted in other global markets.
To help lead your preparation, ACI recently launched our 2022 Prime Time for Real-Time global payments report. This report covers the real-time trends driving success not only in the Pacific, but also throughout the world.
Report: Prime Time for Real-Time
As real-time payments continue to redefine our global economy, this essential report delivers unparalleled insights to help New Zealand chart your path to real-time success.
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.
Find out more at: www.aciworldwide.com/solutions/aci-low-value-real-time-payments
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