BNZ backs NZ fintech's new payments app built to cut merchant fees

Centrapay enables businesses to accept alternative forms of digital payments. (Image: Supplied)

Tue, 29 Oct 2024

New Zealand fintech Centrapay will launch a payment mobile application next year built to cut merchant fees.Bank of New Zealand (BNZ), which has thrown its weight behind the project, said Tuesday that the app, dubbed "Payap", will leverage the power of open banking to offer a lower-cost and contactless way to pay.Centrapay chief executive Greg Beehre said Payap will be the country’s first digital wallet and Point of Sale (POS) app compatible with all NZ banks.It will use QR codes to send funds directly between customers' and...

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