Where the buck stops: Westpac's Red Bird seeks peer-to-peer partner

The open banking app ran a beta trial last year but it was never launched to the wider public. (Photo: Buck)

Fri, 18 Nov 2022

Westpac New Zealand is exploring a partial sale of its peer-to-peer payments platform, Buck, after running a limited trial last year. The bank’s venture-capital subsidiary, Red Bird Ventures, spent three years building Buck and announced an imminent launch in August last year.However, the public launch never happened, and the project has been on ice ever since.BusinessDesk understands Westpac and Red Bird have recently been testing the market for a potential buyer or co-investor in the platform.Victoria Dixon, head of Red Bird Ventur...

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