{"id":358935,"date":"2025-08-20T08:12:11","date_gmt":"2025-08-20T08:12:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/358935\/"},"modified":"2025-08-20T08:12:11","modified_gmt":"2025-08-20T08:12:11","slug":"blinkpay-launches-real-time-payments-technology-in-open-banking-initiative","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/358935\/","title":{"rendered":"BlinkPay launches real-time payments technology in open banking initiative"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/4LIJ0NT_BNZ_BANK_LOGO_jpg\" width=\"1050\" height=\"700\" alt=\"BNZ bank.\"\/><\/p>\n<p class=\"photo-captioned__information\">\nBNZ bought BlinkPay in 2024 and has committed to adopting the technology.<br \/>\nPhoto: RNZ \/ Marika Khabazi\n<\/p>\n<ul>\n<li><b> BlinkPay launches banking-enabled real-time payments technology<\/b><\/li>\n<li><b> BNZ signs as first participant<\/b><\/li>\n<li><b> Transactions processed instantly <\/b><\/li>\n<li><b> CEO calls for more banks to sign up<\/b><\/li>\n<\/ul>\n<p>New Zealand&#8217;s <a href=\"https:\/\/www.rnz.co.nz\/programmes\/the-detail\/story\/2018951771\/green-lights-for-open-banking\" target=\"_blank\" rel=\"noopener\">open-banking initiatives<\/a> took another step forwards today as local financial technology (fintech) company, BlinkPay launches its instant payment technology.<\/p>\n<p>Open banking allows consumers to share bank account information with third party financial services companies to manage money, payments, or offer alternative financial products.<\/p>\n<p>BlinkPay said its technology would allow transactions to be settled in seconds, instead of half-hourly or overnight using the present payment system.<\/p>\n<p>Chief executive Adrian Smith said its technology used the existing payment infrastructure more efficiently.<\/p>\n<p>&#8220;This capability is ready to go and represents a potential game-changer for New Zealand&#8217;s payments landscape.&#8221;<\/p>\n<p>BNZ buys up and signs up<\/p>\n<p>BNZ bought BlinkPay in 2024 and has committed to adopting the technology, although it operates the company independently.<\/p>\n<p>Chief executive Dan Huggins said the technology offers the potential to give people and business more choice in how they send and receive money.<\/p>\n<p>&#8220;This technology works alongside the existing payment system, expanding the range of options rather than replacing what already works really well.&#8221;<\/p>\n<p>Smith said the technology would allow tradies to get paid as soon as a job was finished, consumers to pay for a car instantly and driving it off the forecourt, or distributing emergency funds in a civil emergency in real-time.<\/p>\n<p>Other uses might include instant property settlements, rental bond transfers, and insurance claims.<\/p>\n<p>Smith said that any bank or open-payment provider that met Payment NZ standards could use its service, and he wanted more big banks to pick it up to improve efficiency.<\/p>\n<p><a href=\"https:\/\/radionz.us6.list-manage.com\/subscribe?u=211a938dcf3e634ba2427dde9&amp;id=b3d362e693\" target=\"_blank\" rel=\"noopener\">Sign up for Ng\u0101 Pitopito K\u014drero<\/a>, <b>a daily newsletter curated by our editors and delivered straight to your inbox every weekday.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"BNZ bought BlinkPay in 2024 and has committed to adopting the technology. Photo: RNZ \/ Marika Khabazi BlinkPay&hellip;\n","protected":false},"author":2,"featured_media":358936,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3159],"tags":[1816,9409,547,12,196,10975,10973,10974,53,16,15],"class_list":{"0":"post-358935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-audio","9":"tag-current-affairs","10":"tag-mobile","11":"tag-news","12":"tag-podcasts","13":"tag-public-radio","14":"tag-radio-new-zealand","15":"tag-rnz","16":"tag-technology","17":"tag-uk","18":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115060090138046551","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/358935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=358935"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/358935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/358936"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=358935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=358935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=358935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}