Our Open Banking Showcase hosted by Payments NZ’s API Centre – highlighted fintechs and banks working together to put innovative payment options in the hands of New Zealanders.
From 30 May, the four largest banks in Aotearoa New Zealand were required to offer the API Centre’s v2.1 Payment Initiation API Standard. Ahead of this milestone date, our showcase provided an insight into what open banking payments mean for New Zealanders and how open banking is being delivered.
We were delighted to host more than 500 people in-person and online at the Open Banking Showcase. Led by our API Centre team, the event was held in Tāmaki Makaurau and livestreamed through Techweek NZ.
Phil Cass, API Centre Manager, noted the significance of the event in an opening presentation on the API Centre’s work – celebrating the industry progress made to date, and describing it as an exciting moment marking the beginning of the digital economy in Aotearoa.
Four fintech businesses – BlinkPay, Qippay, Volley and Worldline – presented demonstrations of solutions powered by the Payment Initiation v2.1 API Standard.
Developed by the API Centre in collaboration with the industry, this standard allows consumers to set up and make electronic payments by connecting directly and safely through a registered third party to a registered API Provider.
Representatives of ASB, ANZ, BNZ and Westpac then joined the fintech presenters for two panels moderated by the API Centre’s Lisa Ibarra, discussing the current state of open banking and its future.
