Open banking: How to opt in - and out - of the new payment system

From May 30, New Zealand's four major banks - ANZ, ASB, BNZ and Westpac - must be ready to support payments through open banking - although some already have it in place.

It allows customers to give a third party (such as an online retailer) permission to connect to their banking information, meaning there is no need to enter credit or debit card details to make a purchase.

Click here for the full article on Stuff - https://www.stuff.co.nz/business/350290703/open-banking-how-opt-and-out-new-payment-system