‘Regulatory failure’ let NZ’s payments fall behind

‘Regulatory failure’ let NZ’s payments fall behind
Commerce Commission chair John Small said broad and productive collaboration is vital to establishing regulation to let NZ's payments industry flourish. (Image: Commerce Commission)
Ben Moore
Effective regulation is needed to ensure the modernisation of New Zealand’s payments system, but striking a balance may be challenging.At a Payments NZ conference on Tuesday, Reserve Bank of NZ director of money and cash Ian Woolford said that 45 years ago, NZ was like the All Blacks of payments as it developed and adopted Eftpos.Now, he said, “We’re sort of runner-up in, maybe, an inter-club regional rugby contest … We are so far behind.”Commerce Commission chair John Small said that former success had led to a &...

More Finance

Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025
Wow. It’s all basketball!
Finance

Wow. It’s all basketball!

US investment in basketball is lapping at our shores in more ways than one.

Pattrick Smellie 25 Mar 2025
FMA files criminal charges against David McEwen
Finance

FMA files criminal charges against David McEwen

New Zealand’s financial watchdog has filed criminal charges against former financial adviser David McEwen for allegedly failing to comply with a stop order, which prevented him from contacting potential investors.The Financial Markets Authority (FMA) had made a permanent stop ord...

Staff reporters 18 Mar 2025
FNZ employee shareholders revolt over latest capital raise
Finance Exclusive

FNZ employee shareholders revolt over latest capital raise

Long-standing employees believe new raise halves their holdings.

Victoria Young 14 Mar 2025