Consultation feedback

We had a strong response to our public consultation on payments for the next generation and received a range of views from across the payments ecosystem and wider business community. The feedback identified six overarching themes that will inform our work moving forward: 

  1. Consolidated strategic roadmap: Delivering new payments capability that creates value for consumers and businesses in a clear and sequenced manner. 
  2. Managed delivery: Ensuring investment in future payments infrastructure represents value for the ecosystem and considers competing priorities with delivery of other industry and regulatory initiatives. 
  3. Governance: Ensuring equitable and transparent governance for future payments infrastructure. 
  4. Infrastructure investment: Support for the development of right-sized utility infrastructure to support both current and future needs of the ecosystem. 
  5. Data strategy: Meeting customer and regulatory needs while considering the data impacts and requirements of future payments infrastructure. 
  6. Inclusivity: Ensuring all New Zealanders can participate in and benefit from future payments infrastructure. 

As part of our public consultation process, we have made the responses from consenting organisations and individuals available on our website

What are we doing next?

The valuable insights we received from our consultation have shaped our recommended next steps for our ecosystem.  

We have seen broad support for the concepts outlined in our consultation paper, including strong support for us to prioritise a consolidated strategic roadmap for the payments ecosystem.  

The responses also indicate support for further work to define the strategic pre-conditions for the foundational pillars (data strategy, scheme framework, utility infrastructure) and digital identity, and to formulate recommendations for subsequent actions to be undertaken. 

We are currently working on three key initiatives under this work programme: 
 

  1. Scoping and refining the key foundational elements needed to modernise the payments system in Aotearoa. This work is expected to continue through to the end of 2025. It includes the digital identity sprint, which is already underway and will also consider requirements for a next generation ecosystem. 
  2. Establishing how next generation capabilities are integrated within a consolidated strategic roadmap which sets out the sequencing of future capabilities, taking into consideration wider Payments NZ, industry and regulatory initiatives. We will be running a series of workshops to progress the roadmap and we expect to complete it this year. At the end of this process, we will publish a view of ecosystem-wide payments system modernisation, focusing on introducing incremental change at a realistic pace that will ensure customer safety and security remain at the heart of the payments system. 
  3. We are currently collating a report summarising all feedback and our recommended next steps. We expect to release this report in 2025.  

Why we’re doing this work 

Although the current payments system in Aotearoa provides regular and reliable payments, we need to ensure it can be future-proofed to meet digital economy and societal needs for many more generations to come.  

Payments for the next generation proposes building core digital payments infrastructure that will ensure any future payments system we have in Aotearoa continues to remain safe, secure, resilient and interoperable. 

We want to help the industry and wider stakeholders consider and deliver solutions that are suited to Aotearoa and our unique payment networks, whilst also providing the interoperability required to prepare Aotearoa for the digital information economy of the future.   

Download our consultation paper

Although the consultation is now closed, you can still read our consultation paper.  

The paper proposes a view of what a modern, next generation digital payments ecosystem could look like for Aotearoa, with safe, secure and data-rich payments at its core.  

Get in touch

If you have any questions, please contact our team, nextgen@paymentsnz.co.nz.

You can also stay informed as our work progresses by registering to our next generation mailing list.

In this section

Consultation feedback

Here you’ll find the consultation responses which we have received permission to publish.

Read more  

Stay informed

If you’re interested in being kept informed, please join our mailing list for news and updates.

Read more