Submission on request for views on payments made over the interbank payment network
25 Sep 2023
Payments NZ recently responded to the request from the Commerce Commission, Te Komihana Tauhokohoko, for views on payments made over the interbank payment network.
We support the Commerce Commission’s desire to see “new payment options that allow consumers to make payments between bank accounts” and we believe that this can be achieved through a thriving open banking ecosystem.
We have also initiated a next generation payments programme. The design objectives of this programme include real-time account to account payments which could be utilised in retail payments scenarios.