CORRECT: Westpac keeps core government transactions contract, other banks get peripheral services

Mon, 05 Oct 2015

(Fixes govt savings in 4th graph) By Paul McBeth Oct. 5 (BusinessDesk) - The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. Finance Minister Bill English and Economic Development Minister Steven Joyce today announced Westpac was the winning bidder for the core contract, which accounts for $229 billion worth of credit and $219 billion of debit transactions each year. Westpac will continue to provide core tra...

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