Online spending in New Zealand is on the rise. In fact, Q1 2021 saw far more money spent online by Kiwis than the same period in 2020 (up 27%) or 2019 (up 50%), according to NZ Post. With 2.16 million shoppers online during this period, and an average basket size of over $100, there’s a lot of money to be …
If you’ve never really heard the term ‘Open Banking’ before, that’s OK. Most Kiwis haven’t (nearly 75%, actually, according Yabble/Payments NZ). But chances are you’re already using an Open Banking app or two, and your customers are almost certainly using one. The thing about Open Banking is that as you dig into it, it looks like it could be quite …
New Zealand might have escaped the worst of the global COVID-19 pandemic, but for many local businesses their cash flow did not emerge unscathed. Better adoption of modern technology is critical in the fight for better cash flow, and that means trying to digitise and transform at every level of the organisation – right down to something as small (yet …
Half of all New Zealanders now shop online (NZ Post) – if you can’t offer an e-commerce solution with easy payment options, you’re at risk of falling behind your more agile competitors. But in order to start selling digitally, you need to know that you can handle people’s credit cards and other payment choices quickly and securely. That’s no easy …
A merchant account is a special type of bank account that receives funds that have been authorised by a payment gateway. It holds onto these funds for a defined period of time before transferring them to a business bank account in batches. This way, your business account is not receiving hundreds (or thousands) of individual deposits each day. Merchant accounts …
If your business sells products or services online, you will need some type of online payment system. Payment gateways are one option that you could consider but don’t forget to do your due diligence. Read on for the 14 essential questions you should be asking before you choose a payment gateway. Related articles Need help choosing the right payment system …
As technology advances and New Zealand – along with the rest of the world – becomes increasingly dependent on e-services, your pharmacy could greatly benefit by embracing eCommerce. Advantages of having an online pharmacy Let’s look at the top 10 reasons your pharmacy should consider selling online. 1. Attract more customers This is the first and most obvious advantage of …
What is a credit card surcharge? How many times have you gone up to buy something online, and at the final stage of the process there’s a small note in fine print: “Please note, if you are paying by credit card there will be a 2% surcharge.” You may have a similar notice on your website or next to the …
Faced with economic uncertainty, New Zealanders are being wily with their hard-earned cash and are avoiding getting into more credit card debt, while still supporting local online businesses with direct payments. In the past three months the total amount owed to banks that operate credit cards plummeted by around $1 billion, as Kiwis opted out of using their credit cards …
An opinion by Allister Hunter Allister Hunter is a payments expert and has worked in the banking industry as well as Merco Ltd, the New Zealand distributor of the POLi Payment service where he is Chairman and Director of Payments Strategy. Merco Ltd is a registered third-party Standards User of the Payments NZ API Centre and Allister is a member …
