Submission to the Commerce Commission on designation of the interbank payment network
23 May 2024
Payments NZ has made a submission on a proposal by the Commerce Commission Te Komihana Tauhokohoko to recommend designation of the interbank payment network under the Retail Payment System Act 2022. The Commission published its proposal on 27 March 2024.
Given the overlapping issues involved, our submission also responds to the Commission’s draft market study report on personal banking services – in relation to open banking and the role of Payments NZ and the API Centre – and to the Commission’s open letter to participants of Aotearoa New Zealand’s retail payment system on 22 February 2024.