RBNZ opens payment system to non-banks
Second phase will accept applications from payment service providers and overseas deposit-takers
New Zealand’s central bank announced on March 31 that it was opening its exchange settlement account system (ESAS) to certain non-banks.
In the first phase of the rollout, the Reserve Bank of New Zealand (RBNZ) will accept applications from non-bank deposit-takers. The second phase will involve it accepting applications from other firms, such as payment service providers, overseas deposit-takers and operators of designated financial market infrastructures.
In its statement, the RBNZ said: “The way
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