Statement Of Preliminary Issues Released For Payments NZ’s Application Seeking Open Banking Framework Development

Published: Mon 12 Feb 2024 01:23 PM
The Commerce Commission has published a statement of preliminary issues relating to an application from Payments NZ Limited (Payments NZ) seeking authorisation to work with API providers and third parties to develop arrangements that, according to Payments NZ, will facilitate a more well-utilised, secure and innovative open banking framework.
The statement outlines the key competition issues that the Commission considers important in deciding whether or not to grant authorisation for Payments NZ’s proposed arrangement.
The Commission invites interested parties to provide comments on the likely benefits and detriments, including the likely competitive effects, of the proposed arrangement. Submissions can be sent by email to with the reference “Payments NZ Authorisation” in the subject line. Any submissions should be received by close of business on 26 February 2024.
The Commission is currently scheduled to make a decision on the application by 10 July 2024. However, this date may be extended as the investigation progresses.
The Statement of Preliminary Issues and a public version of the application can be found on the Commission’s case register.
The Commission may grant authorisation under section 58 of the Commerce Act 1986 (the Act) for agreements that may otherwise breach the Act if it is satisfied that the agreement will in all the circumstances result, or be likely to result, in such a benefit to the public that the conduct should be permitted.
The Commission’s Authorisation Guidelines explain when anti-competitive agreements that may lessen competition or which contain a cartel provision can be authorised under section 58 of the Act, and our process for determining applications.

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