Kiwibank Unveils Realtime P2P Payments for Merchant Customers

EXCLUSIVE – Kiwibank launched a new mobile feature for its business customers today, joining the list of many other fintechs and banks that have unveiled similar merchant-focused apps and features.

Today, the New Zealand bank unveiled Kiwibank QuickPay. This mobile solution lets its merchant customers receive “on-the-spot” payments — peer-to-peer payments in realtime.

The app, available on both Apple and Google Play, will enable businesses to accept card payments from Visa, Mastercard and EFTPOS cards (EFTPOS is a New Zealand specific card payment system.) Kiwibank QuickPay users can accept in-person payments from their customers by having the customer tap, insert or swipe their cards.

Kiwibank QuickPay also lets merchants create an online product catalogue, generate digital quotes, invoices, receipts and email them directly to customers, as well as process refunds.

Nigel Gaudin, general manager of business banking and specialist markets at Kiwibank, said in a Tuesday statement:

Kiwibank QuickPay is what our small business customers need in this rapidly changing environment. We believe that QuickPay gives them all of the features and benefits they need to take payments on the spot and on the go, and provides a seamless payment experience for their customers.

Indeed, this is the right time to reveal such a merchant-focused app. Given the shopping season, many fintechs and banks have been doing the same. Just this morning, consumer lending fintech PayBright launched its instant consumer financing solution for online purchases feature in Canada. Last week, payments company PayPal announced it is now letting users create invoices through the Facebook Messenger service, as a build-on to its P2P payments service through Facebook’s chat service.

‘Tis the season to enable more mobile shopping.

To learn more about the latest developments in P2P payments and mobile banking, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to register.

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Tatjana Kulkarni is Deputy Editor at Bank Innovation. Before Bank Innovation, she was the marketing coordinator at conference producer Capital Roundtable. Prior to that she was a business reporter for nearly three years at The Deal. She has an M.A. in International Relations from New York University and a B.A. in Journalism from L.I.U. Post. In her spare time she travels as much as possible, making it a point to visit at least one new country per year.

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