An organisation that has joined Payments NZ’s Membership programme. There are three different kinds of membership: Infrastructure, Standards and Industry membership – which reflect the different kinds of organisations in the payment ecosystem.



A Participant exchanges payments directly with other Participants in one or more of the three clearing systems run by Payments NZ.

Payment Information

The details that need to accompany a payment so the receiving Participant knows what the payment is for and the account the money needs to be paid into or taken out of.

Payment Instrument

A generic term used to describe the different ways payments can be made. Examples of payment instruments include cash, EFTPOS payments, bill payments, automatic payments etc. See 'Payment Methods' for more information.

Payment Settlement System

A system used by Participants to exchange Payment Information and settle their payment obligations with other participants.