Consultation on payments for the next generation
Our consultation is currently open and will close at 5pm, Friday, 28 March 2025.
The consultation paper proposes a view of what a modern, next generation digital payments ecosystem could look like for Aotearoa, with safe, secure and data-rich payments at its core.
We’re requesting feedback to understand the demand for next generation digital capabilities and how those capabilities should be prioritised.
How to submit feedback
Our consultation consists of two components – a comprehensive consultation paper which proposed detailed solutions suited to Aotearoa New Zealand and our unique payment networks, and consultation questions to help us understand stakeholder perspectives.
We are committed to getting a wide range of views and continue working to lead and coordinate industry efforts in this space.
We welcome individuals, groups and organisations with an interest in next generation payments to get in touch with us through the consultation process and give us your constructive feedback.
Answers to the most common questions we get asked about the next generation payments programme can be found here.
Download the documents
Consultation paper: Consultation on payments for the next generation.
View the consultation questions.
If you have any questions about the consultation process or would like more information on particular aspects of the paper, please contact our team.
Why we’re doing this work
Although the current payment system in Aotearoa provides regular and reliable payments, we need to ensure it can be future-proofed to meet digital economy and societal needs for many more generations to come.
Our consultation on payments for the next generation proposes digital payments infrastructure that will ensure any future payments system we have in Aotearoa continues to remain safe, secure, resilient and interoperable.
Through this process, we want to help the industry and wider stakeholders consider and deliver a solution that is suited to Aotearoa and our unique payment networks, whilst also providing the interconnectedness required to prepare Aotearoa for the digital information economy of the future.
We’re sharing this now so stakeholders can consider the future opportunities, foundational design and ecosystem roadmap, and provide constructive feedback based on experience.
What happens after the consultation?
While we are still deep in the consultation process, we are also starting to consider what the next phase of the programme could look like.
We are working towards the delivery of a data strategy and an industry roadmap that will help shape the sequencing of the work that must be done. This needs to be completed so the industry can commit to, plan and coordinate internally to enable any implementation to follow.
We will also be ensuring any work done is aligned with industry priorities and sequenced correctly to meet changing regulatory expectations.
To ensure a coordinated approach, any future programme activity will consider relevant industry-wide changes, including ISO 20022 compliance initiatives, open banking, digital identity, and the rollout of confirmation of payee and centralised fraud reporting for banks.