Payments NZ releases API standards
Payments NZ has released its first API standards for payment initiation and account information. These open payments-related standards will be used as a building block for innovation in New Zealand.
Payments NZ has been working with the industry to understand and prepare for a more open future in payments. Over the past year, it has been working on a shared API framework and pilot to bring common API standards and an API standards ecosystem to life. The objective of the work is to make it easier for organisations to partner using standards, so they can bring financial services innovation to market more simply and quickly.
The API management framework sets out how organisations can access, use and contribute to the standards going forward. It forms the basis of a new Payments NZ API standards service, which will be opened in a few months’ time for organisations to become registered standards users.