The bank is also adopting Akahu’s transaction enrichment services, enabling customers to view detailed merchant information – including names, logos, locations, and websites – within the Westpac One app.
“Westpac’s level of transaction enrichment will be unique in the industry and reach across all payment types,” said Josh Daniell, co-founder of Akahu.
“With our focus on this market and local team, we’re able to enrich the full breadth of New Zealand merchants. Customers are delighted to see that we can supply details for their local convenience store in Karitane, or their fish & chip shop in Pukenui.”
Preparing for open banking regulation in 2025
This initiative arrives ahead of the December 2025 regulatory change that will mandate standardised open banking protocols in New Zealand.
The shift will replace current bilateral agreements with a centralised, regulated framework. Westpac’s early commitment to integration – demonstrated by its partnerships with Akahu and digital wallet provider Dosh – signals a proactive approach to shaping the future open finance ecosystem.