Payments NZ responds to government recommendations
13 Nov 2025
Payments NZ acknowledges the announcement made by the government today accepting the Finance and Expenditure Committee’s recommendations for their inquiry into banking competition.
We are pleased that the government has recognised the importance of next generation payments infrastructure, as this has been at the heart of our own modernisation work through our industry Payments Direction strategic programme. We look forward to further discussions and working with the Reserve Bank of New Zealand – Te Pūtea Matua as they develop their programme.
Payments NZ has worked closely with the Reserve Bank since our inception in 2010. Over this time, we have continued to work towards the same aligned outcomes of having a reliable, efficient, innovative, open, and inclusive payments system for Aotearoa.
Much of the groundwork to prepare our payments system in Aotearoa for modernisation is already well underway. We have driven important work over the past several years on shaping the future of next generation payments including through research and insights, public consultations, cross-sector working groups, committees, design and development sprints, and other ongoing industry activity in this space.
The ecosystem views we have gathered through these efforts went into shaping the feedback and strategic recommendations report we released in September. These will feed into the bigger picture as well as guide our own modernisation work going forward. We look forward to working closely with the Reserve Bank to ensure industry efforts are strategically aligned and coordinated with public policy outcomes.
We also acknowledge and welcome the government writing to our Board in due course and in the meantime, remain open to discussions with key agencies and the industry as we continue working with the industry to deliver outcomes that benefit all in Aotearoa.