Now customers can purchase online even without a credit or debit card
The Bank of New Zealand has partnered with BlinkPay to enable New Zealanders to easily shop online without the need for a credit or debit card.
BlinkPay, a home-grown Māori fintech startup that connects businesses with their customers, uses BNZ’s secure API built to Payments NZ standards to allow third-party services to securely connect with BNZ accounts, with the consent of customers.
Blink PayNow is a user-friendly, secure, and accessible payment method that enables account-to-account payments within New Zealand with just a couple of clicks. The solution makes online shopping easy by eliminating the need for a credit or debit card. It also reduces transaction fees for merchants.
“As pioneers in the API payment solutions space, BlinkPay is proud to collaborate with BNZ, which is a leader in the NZ financial services sector,” said Adrian Smith, chief product officer and co-founder of BlinkPay.
“This collaboration allows BNZ merchants to access BlinkPay’s payment products like Blink PayNow and, in the future, Blink AutoPay. Both products provide a straightforward and secure payment method from a customer’s BNZ bank account.”
Karna Luke, BNZ’s executive of customer products and services, said the new offering was about simplifying the digital economy and making it accessible to more New Zealanders.
“Whether it’s for the latest fashion, an annual insurance premium, or other domestic online purchases, this service makes it possible to easily pay for your shopping online with just a bank account,” Luke said. “Enabled through our secure API, this is a step forward for inclusive banking in Aotearoa, reducing barriers and making it easier for consumers and businesses to benefit from the digital economy.”
How Blink PayNow works
BNZ customers shopping on a BlinkPay-integrated website can select Blink PayNow at checkout and choose their bank. They will then be redirected to their bank’s portal, where their payment details are pre-filled. They just need to review and confirm the payment from their mobile banking app, before they are taken back to the merchant’s site with a successful payment notification.
Making it cheaper to do business
Businesses using BlinkPay will benefit from cheap fees. BlinkPay’s standard fee is 0.95% per transaction, capped at $3. But for BNZ consumers paying through the service, it comes at zero cost.
“We’re proud to offer cheaper fees to New Zealand businesses than our multinational rivals,” Smith said in a media release. “Reduced fees make it easier for businesses to be competitive in the marketplace, which is also good news for consumers.”
To introduce this new feature, BlinkPay is offering BNZ-merchants a special deal: no integration fees and half-price transaction fees until Dec. 31. To avail this offer, merchants should sign up on BlinkPay’s website by Sept. 30.
For more details on this payment method, visit BlinkPay’s official website.
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