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Overview
Payments NZ's API Centre is the hub for open banking standards in New Zealand, co-designed by banks and third parties. It defines three core standards: the payment initiation API (payments from accounts via apps or third parties), the account information API (third-party access to specific account data with consent), and the event notification API (notifications when customers change or revoke consent). Standards use OAuth 2.0 and the Financial-grade API (FAPI) profile; all major banks implement the same specs. The API Centre provides a shared sandbox, centralised onboarding and due-diligence sharing across banks, and governance via the API Council (banks, fintechs, and independent experts). From 2025, banks must meet published service-level benchmarks for API availability and error rates. Open banking is now formalised under the New Zealand CDR (December 2025).
Scope & Coverage
Key Requirements
Implementation Timeline
API Specifications
Technical standards and API specifications for implementing Payments NZ API:
Official Documents & Resources
Key Notes
Market-driven first (2019 API Centre launch, 2021 live pilots with BNZ and Westpac); government followed with CDR. In one month in 2025, 100,000+ customers made 180,000+ payments via open banking. Examples: Volley (including Givealittle), BNZ Payap, Dosh, Revolut, SortMe, BudgetBuddie.
Official Resources
Related Regulations
Other open banking frameworks in Oceania:
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