The Reserve Bank of New Zealand (RBNZ) has initiated a work programme to modernise New Zealand's retail payment system. It has begun engaging with industry through its Payments Industry Working Group and an open consultation on its issues paper: Modernising New Zealand's Retail Payment System.
In October 2026, MinterEllisonRuddWatts convened a cross-industry forum bringing together banks, payments service providers, fintechs, regulators, and end-user groups. The goal was to discuss the complex and competing issues across this work programme and map out shared priorities across the industry.
Rather than starting with platform design, governance models or ownership options, the forum deliberately began with the strategic case itself: what does success look like for payments modernisation in New Zealand, and what would deliver the most meaningful shift for the economy, businesses and consumers?
Discussion ran under the Chatham House Rule to encourage candid engagement. This summary reflects the range of views raised across the room, including some that are inconsistent with one another, grouped and summarised by theme rather than attributed to individual speakers.
Download the event summary here.
For any questions regarding the content covered in the summary, please contact Emma Geard or Sonya Forbes.
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