The governance of New Zealand payment landscape, Payments NZ, has opened a new ‘API Centre’ in an effort to create “greater openness” in the country’s payments and banking sector and to support a new API-enabled ecosystem.
Payments NZ chief executive Steve Wiggins commented on the launch of the centre, describing it as a “big step forward for the industry”.
He commended all involved with project and described API centre acts as a clear sign of what the industry can achieve when working in collaboration with each other.
He said: “Our world is now connected in more ways than anyone could ever have imagined, and Kiwis are increasingly expecting more and better ways to pay and use their financial services data. Globally, open API standards are seen as important building blocks for developing innovations that meet customer expectations.”
“This work has been industry led and market driven since day one. The new service will provide a central coordinating role for our fledgling API-enabled ecosystem. We’re taking an innovation-first approach, encouraging value add and bringing innovators together.”
In order to join the API centre, Payments NZ detailed the process in two different ways; standards user or a community contributor.
Standards users are organisations who join as an API provider or third party depending on whether they want to provide API endpoints or consume them with other Standards Users.
Community contributor registration is for individuals, such as developers and API practitioners, who have an interest in our API standards and want to use our independent sandbox.
Wiggins explained that the centre has been designed to be flexible and responsive to market needs and it will aim to support those who wish to create their own solutions.
“What we’re doing is enabling people to do cool things. There’s huge potential for where the industry can take their innovations using these standards as a foundation, especially with some creativity and the Kiwi way of working together,” stated Wiggins.
“We’ve planned for the centre to be open and inclusive. It’s now over to the market to take up the opportunity and get involved. We’ve made access to the centre simple so it can cater for a broad range of organisations and individuals.”
The announcement was made as a part of Techweek 2019; in attendance was the country’s minister of commerce and consumer affairs, Hon Kris Faafoi, who also gave an address at the event.
Wiggins concluded: “I want to thank everyone who contributed to this work from across the industry. In particular, a big thank you to those who participated in our weekly working groups for over a year.
“We wouldn’t be here today if it wasn’t for their collective effort, expertise and enthusiasm. I’m looking forward to welcoming many of these organisations into the centre, and excited to see what they develop off the back of the standards.”
