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A view of NZ's payments ecosystem in 10 years time

01 December 2015

We've recently produced the second report from our Payments Direction strategic initiative titled Payments 2025: A view of the payments ecosystem in 10 years time.

Drawing on the wide ranging and extensive review of local and international research prepared for our environmental scan report, Payments 2025 identifies the key factors likely to influence our payments ecosystem over the next 10 years.

Taking those key factors into account, we identified six elements we think will characterise New Zealand’s payments ecosystem of 2025:

view-element-icon1-100px.png1. Simple payment systems
Simplification of payment systems will result in more flexible and modular payments rails, delivering streamlined and efficient payments processing, enabling innovation and supporting great customer experiences for Kiwis.
view-element-icon2-100px.png2. Fast payments
Kiwis will be able to access fast account-to-account domestic payment services. Interoperable payments rails will underpin faster payments and be available to, and leveraged by, industry players to create fit-for-purpose payment solutions and services.
view-element-icon3-100px.png3. Informative transactions
Kiwis will benefit from being able to send and receive more timely, relevant and rich information with their payments. The payments rails will support richer payments messaging leading to informative transactions which support data driven innovation and new value propositions.
view-element-icon4-100px.png4. Dynamic network
Payments innovation will be enabled by simple, fast and more informative payments rails within a self-regulatory environment. Innovation to market will take place at an increased pace enabled by the efforts and partnerships of existing and new industry and fintech players.
view-element-icon5-100px.png5. Just right regulation
Payments regulation will remain ‘right sized’ for the New Zealand marketplace as the dynamic network continues to innovate and ensures the integrity of the payments system by keeping payments safe, sound and efficient. As a result, confidence in payment instruments remains high with users and regulators.
view-element-icon6-100px.png6. International payments
Payments will continue to evolve in response to international trade, a more varied set of economic relationships and an increase in global remittances. As a result, the cross-border payments experience will be simple, intuitive and straightforward. Digital currencies, other virtual mediums of exchange, and their enabling technologies, will form part of the mix of international payment services available to Kiwis.


While we talk about the future in absolute terms in the Payments 2025 report, it is a point in time assessment of what the future could look like. This view will evolve over time in response to environmental factors and we’ll keep an eye on these developments to ensure our strategic outlook and direction is up to date.

The six elements which make up our future view in Payments 2025, along with the findings of our environmental scan, are being used to help shape Payments NZ’s long-term strategic roadmap.

UPDATE Feb 2016: Payments 2025 and the 2015 Environmental scan report are now available in the Payments Direction section.

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