New Zealand Banking Association choose obconnect to deliver Confirmation of Payee ecosystem

PayPoint Plc 10 October 2024New Zealand Banking Association choose obconnect to deliver Confirmation of Payee ecosystem PayPoint has today announced that obconnect, the leading Open Banking technology provider, has secured the contract to deliver the Confirmation of Payee ecosystem in New Zealand, partnering with the New Zealand Banking Association (NZBA). This follows the announcement on 1 August 2024 confirming that PayPoint is making a further strategic investment in obconnect,...

WELWYN GARDEN CITY, 10/10/2024 (informazione.it - comunicati stampa - economia)

PayPoint Plc

10 October 2024

New Zealand Banking Association choose obconnect to deliver Confirmation of Payee ecosystem

PayPoint has today announced that obconnect, the leading Open Banking technology provider, has secured the contract to deliver the Confirmation of Payee ecosystem in New Zealand, partnering with the New Zealand Banking Association (NZBA). This follows the announcement on 1 August 2024 confirming that PayPoint is making a further strategic investment in obconnect, enabling the Group to further leverage their Open Banking technology platform and unlock greater opportunities within both businesses.

The contract will initially see obconnect providing Confirmation of Payee services to major banks in New Zealand from November 2024, including ANZ, ASB, Bank of China, BNZ, CCB, The Co-operative Bank, Heartland Bank, ICBC, Kiwibank, Rabobank, SBS Bank, TSB, and Westpac. Confirmation of Payee provides bank customers with an extra level of reassurance when making domestic payments from one bank account to another, allowing them to check that the account name matches the account number before the payment is made.

Nick Wiles, Chief Executive of PayPoint, said:

“We are delighted that obconnect has won the contract to deliver the Confirmation of Payee ecosystem in New Zealand, coming soon after our strategic investment was announced. Confirmation of Payee and Open Banking is important to the future of the PayPoint business and our investment in obconnect will enable the Group to strengthen its position further in this fast-growing sector.”

ABOUT PAYPOINT GROUP

For tens of thousands of businesses and millions of consumers, we deliver innovative technology and services that make life a little easier.

The PayPoint Group serves a diverse range of organisations, from SME and convenience retailer partners, to local authorities, government, multinational service providers and e-commerce brands. Our products are split across four core business divisions:

Together, these solutions enable the PayPoint Group to create long-term value for all stakeholders, including customers, communities and the world we live in.

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