Open Banking (Also known as Open Finance) is a rising movement that aims to open up and democratise the financial sector by giving people greater control of, and access to, their personal financial data. Open Banking will enable individuals and businesses to gain access (With consent) to any financial data created about them by their service providers, including bank statements, credit card statements and more.

Open Banking is…

  • about bettering the lives of New Zealanders by delivering greater choice, access, and transparency through digital innovation. This will unleash a new wave of products and services that take advantage of open banking data, producing real benefits for consumers, businesses and the economy as a whole.
  • designed to provide the opportunity to address financial inclusion It also provides opportunities to bring financial control back to the consumer and SMEs while providing the opportunity to support open innovation and transparency in the financial sector.
  • a framework for supporting the interoperability of financial products in today’s complex ecosystem. In addition, it lays the foundation for new services such as instant payments, personal balance information and digital wallets the will drive economic growth

 

Our solutions enables businesses to receive payments from their customers without the traditional time delays or high transaction fees.

We are redefining real-time and reoccurring payments with the use of Akahu (New Zealand’s leading Open Finance platform), allowing businesses and customers to seamlessly transact.

By connecting accounts directly with Akahu, businesses and individuals alike will be able to transact more affordably and have the ability to consolidate their account information in one place.
Customers will have the choice to make the connection to Akahu ongoing, allowing for seamless reoccurring payments or just use it for a one-off instance.

Qippay does not store or collect any account information, only the amount, time, and schedule of the payments in order to provide our merchants and customers a better understanding of the payments.