Latest news with #OnlineEFTPOS
Scoop
15-06-2025
- Business
- Scoop
Introducing Direct Pay – The Future Of In-person Payments Has Arrived In New Zealand
A new era of payments is here. Worldline NZ has officially launched Direct Pay, a revolutionary in-person account to account payment method built on open banking technology. It is the leading in-person payment solution in New Zealand to leverage open banking APIs from all four major NZ banks and is now available for merchants to use. This innovative solution paves the way for a bold new future in how Kiwis pay and get paid. Built on the success of Worldline's Tap on Mobile platform, Direct Pay empowers small businesses and individual merchants to accept payments directly from customers' bank accounts—no cards, no terminals, no hassle. Just a quick QR code scan and approval in the customer's banking app. It's fast. It's secure. It's seamless. 'This is a break-through for merchants and consumers alike,' says Maxine Elliott, CEO of Worldline NZ. 'Direct Pay is not just a new way to pay—it's a smarter, more cost-effective, and future-ready solution that puts control back in the hands of businesses and their customers.' With instant account-to-account payments powered by open banking APIs connected to all four major New Zealand banks, Direct Pay slashes surcharges, eliminates chargebacks, and ensures overnight settlement. It's a win-win for merchants and customers. Worldline has long been a pioneer in open banking, having introduced Online EFTPOS to New Zealand in 2016. Now, with Direct Pay, they're once again leading the charge—this time bringing open banking to the physical point of sale. 'We're building a more connected, productive economy—one payment at a time,' says Elliott. 'Direct Pay is the future, and it's here now.' About Worldline in New Zealand We are New Zealand's leading payments innovator. We design, build and deliver payment solutions that help Kiwi business succeed. Whether you're looking for in store, online or mobile payment solutions or powerful business insights, Worldline is here to help with technology backed by experience. About WorldLine Worldline [Euronext: WLN] helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2024. Worldline's corporate purpose ('raison d'être') is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. Worldline makes them environmentally friendly, widely accessible, and supports social transformation.
Scoop
15-05-2025
- Business
- Scoop
Westpac NZ Supports Open Banking Rollout By Not Charging Fintechs For Standard API Calls
Press Release – Westpac New Zealand Allowing fintechs to integrate into our open banking APIs for no cost should create a more affordable business model for them, and ultimately speed up access for Kiwi consumers to a wide range of affordable open banking experiences, Westpac NZ Chief … Westpac NZ is supporting the rollout of open banking in New Zealand by making standard API requests through its systems free for accredited third-party providers, for at least the first 12 months. 'Allowing fintechs to integrate into our open banking APIs for no cost should create a more affordable business model for them, and ultimately speed up access for Kiwi consumers to a wide range of affordable open banking experiences,' Westpac NZ Chief Information Officer Russell Jones says. 'As an early participant in Online EFTPOS from 2019, we understand the value of providing consumers with more options for making payments and managing their money in a safe and secure way. 'We already have agreements in place with a number of fintechs, and we've notified them of their reduced pricing, which we'll review in 12 months' time as the open banking landscape evolves. We expect to enter into agreements with a number of new fintechs in the near future. 'We're already facilitating thousands of open banking payments a month for Kiwi consumers, and we expect that to keep growing steadily as trust and awareness of open banking grows.' Mr Jones says an industry-wide collaborative approach is needed to make open banking a success. 'We're keen to ensure New Zealand's open banking ecosystem is viable in the long term and we hope to see it expand to include all financial services participants. 'We look forward to MBIE releasing the central accreditation model, which will further streamline the onboarding experience by removing the need for fintechs to enter into multiple bilateral agreements with open banking providers. 'Consumer confidence is also key to the successful uptake of open banking, and we continue to work with the industry on future API standards that are safe and secure, as well as providing a seamless and efficient partnering process with third parties that creates trust in the system. 'From an operational perspective, we're on track to meet the 30 May deadline for Payments NZ's API Centre Payment Initiation implementation plan version 2.3. This will give customers increased functionality and choice for making both one-off and regular ongoing payments.' More information about Westpac's open banking work can be found on its website, including a list of current integrated third-party providers. Earlier this month, the government released guidance that bank charges for open banking must not exceed 1 cent per successful API call for account information and 5 cents per transaction for payments.
Scoop
15-05-2025
- Business
- Scoop
Westpac NZ Supports Open Banking Rollout By Not Charging Fintechs For Standard API Calls
Westpac NZ is supporting the rollout of open banking in New Zealand by making standard API requests through its systems free for accredited third-party providers, for at least the first 12 months. 'Allowing fintechs to integrate into our open banking APIs for no cost should create a more affordable business model for them, and ultimately speed up access for Kiwi consumers to a wide range of affordable open banking experiences,' Westpac NZ Chief Information Officer Russell Jones says. 'As an early participant in Online EFTPOS from 2019, we understand the value of providing consumers with more options for making payments and managing their money in a safe and secure way. 'We already have agreements in place with a number of fintechs, and we've notified them of their reduced pricing, which we'll review in 12 months' time as the open banking landscape evolves. We expect to enter into agreements with a number of new fintechs in the near future. 'We're already facilitating thousands of open banking payments a month for Kiwi consumers, and we expect that to keep growing steadily as trust and awareness of open banking grows.' Mr Jones says an industry-wide collaborative approach is needed to make open banking a success. 'We're keen to ensure New Zealand's open banking ecosystem is viable in the long term and we hope to see it expand to include all financial services participants. 'We look forward to MBIE releasing the central accreditation model, which will further streamline the onboarding experience by removing the need for fintechs to enter into multiple bilateral agreements with open banking providers. 'Consumer confidence is also key to the successful uptake of open banking, and we continue to work with the industry on future API standards that are safe and secure, as well as providing a seamless and efficient partnering process with third parties that creates trust in the system. 'From an operational perspective, we're on track to meet the 30 May deadline for Payments NZ's API Centre Payment Initiation implementation plan version 2.3. This will give customers increased functionality and choice for making both one-off and regular ongoing payments.' More information about Westpac's open banking work can be found on its website, including a list of current integrated third-party providers. Earlier this month, the government released guidance that bank charges for open banking must not exceed 1 cent per successful API call for account information and 5 cents per transaction for payments.
