Looking back to look forward – our 2024 Year in Review
We’re celebrating a year of progress in payments for Aotearoa New Zealand, with the release of our 2024 Year in Review.
This report provides an update and shares outcomes from a range of Payments NZ workstreams, as well as a look at our regulatory landscape and a forward view on our work in 2025 and beyond.
Key highlights from the past year include:
- One year of seven-day payments in May – with $1 billion now settling each weekend including $200 million in card payments to merchants
- 50,000 EFTPOS terminals upgraded, ensuring continued protection for New Zealanders and businesses
- Leadership and collaboration in payments innovation, working with fintechs, banks and industry participants
- The country’s four largest banks working towards implementing the Payment Initiation and Account Information v2.1 open banking standards
- Two successful Open Banking Showcases, with over 500 attendees at our May event, and a dedicated summit at our biennial conference in November
- The launch of our next generation payments consultation, seeking feedback to shape the future of our nation’s digital payments infrastructure
- A landmark event at The Point 2024 – welcoming over 400 attendees and showcasing the industry’s readiness to collaborate and drive progress in 2025.