Digital identity in the digital economy
Our whitepaper, Digital identity in the digital economy, is now available. In it, we explore how digital identity services can help make payments safer in Aotearoa New Zealand. The paper is part of our Payments Direction strategic programme, which looks at what needs to be done to prepare for the evolving future of payments.
This whitepaper examines key developments in Aotearoa, drawing on global insights to offer a comprehensive view of the digital identity landscape. We also outline the five key questions we’ll be exploring with stakeholders to assess future opportunities for ecosystem innovation.
The report looks at:
- The context for digital identity in Aotearoa – including fraud and scam challenges
- Insights on international approaches to digital identity
- Current public and private sector initiatives in Aotearoa
- The opportunity for financial service providers to engage with digital identity to support a safer payments ecosystem.
Why we’re doing this work
Our formal exploration into digital identity began in 2024 with a series of workshops focused on how digital identity can enhance security, inclusivity, and efficiency of payment systems in Aotearoa.
In partnership with Digital Identity New Zealand, an exploratory sprint into digital identity for payments followed these sessions, which brought insightful perspectives and actions for the industry to consider. The findings and proposed actions can be read in detail here.
Feedback to our public consultation on payments for the next generation, which closed in March 2025, highlighted strong support for an industry exploration into how digital identity can make payments safer. We are now focusing on the next phase of work, which is outlined below.
What are we doing next?
Digital identity in the digital economy sets out five key questions for the industry to consider as we move into a proof-of-concept exercise. This will inform the development of an industry view on the role of digital identity services in payments, and its integration with the payments ecosystem. Our working group is currently exploring use cases for digital identity verified credentials in payments.
We’ll be using the insights and outcomes from this sprint and further industry engagement to form the basis of a future workplan. These findings will also inform other Payments NZ initiatives, including the development of our consolidated strategic roadmap.
Get in touch
If you want more information or would like to get involved please contact our team, payments.direction@paymentsnz.co.nz.