New digital wallet and POS app Payap gears up for 2025 launch in New Zealand
Payap, a new digital wallet and point-of-sale (POS) app powered by New Zealand-based fintech Centrapay and backed by the Bank of New Zealand (BNZ), has opened for business sign-ups ahead of its planned consumer launch in the country in March 2025.
Payap’s consumer launch is set for March 2025
The company says its app leverages open banking to provide businesses and consumers with “a new lower cost, contactless way to pay and get paid”.
For consumers, the platform will provide a digital wallet that unifies all New Zealand bank accounts, gift cards, and loyalty cards in one place, enabling users to make instant in-store payments directly from their bank accounts via QR codes, while the app’s e-commerce solution also enables businesses to accept payments online.
Businesses using Payap will be able to create and manage loyalty programmes and gain greater control over transactions, discounts, and refunds through a “dedicated portal”, and the app’s ‘store finder’ feature can also help boost business visibility.
According to BNZ, the app will enable payments from “any linked account,” facilitate peer-to-peer (P2P) transactions, record receipts, trigger rewards automatically during transactions, and manage shared payments.
At launch, Payap will offer core capabilities for payments, acceptance, and rewards, with additional functionalities, such as P2P payments, to be “rolled out progressively throughout 2025”.
