Episode Details

BNZ is taking advantage of the Government’s ban on in-store card surcharges to promote its new banking platform. 

Payap, an open banking platform, allows customers to pay directly from their bank account.  

It provides a lower-cost alternative with transaction fees of just 0.39% or 0.59%, and is compatible with all major NZ banks. 

BNZ Head of Payment Development Jonathan Dale told Kerre Woodham with yesterday’s surcharge announcement, it’s good to highlight some alternatives in the market that will leave businesses in a good position for both them and their customers. 

Payap, he says, creates an even playing field, and the small transaction fee creates an opportunity for small and large businesses alike to keep on growing. 

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