India-New Zealand Pact to Enable Seamless Digital Payments

By siliconindia  |  Wednesday, 24 December 2025, 09:43:51 AM IST

India-New Zealand Pact to Enable Seamless Digital Payments
  • Joint push for interoperable domestic payment systems to enable seamless connectivity between India’s and New Zealand’s fast payment platforms, improving transaction speed and efficiency.
  • Real-time cross-border remittances and merchant payments planned, aimed at making overseas money transfers quicker, lower-cost, and more transparent for individuals and businesses.
  • Easier market access for banks and fintech firms, with relaxed regulations and expanded licensing opportunities to support cross-border expansion and financial services growth.

India and New Zealand have agreed to work together on strengthening payment interoperability and enabling real-time cross-border digital transactions as part of a broader trade pact between the two countries. The move aims to connect their fast payment systems and simplify remittances and merchant payments.

Under the agreement, both nations will support integration between their domestic payment infrastructures, including real-time systems such as India’s UPI. This collaboration is expected to benefit Indian migrants in New Zealand by making remittances faster, cheaper, and more transparent. It also opens new growth opportunities for Indian fintech companies and payment service providers looking to expand overseas.

According to an official statement, India has offered forward-looking reforms in financial services as part of the deal. These include higher foreign direct investment limits in banking and insurance, along with a more flexible bank branch licensing framework. Indian banks will now be allowed to open up to 15 branches in New Zealand over four years, an increase from the earlier limit of 12 under WTO norms.

The agreement also benefits New Zealand’s financial institutions by giving them better access to India’s fast-growing financial services market. Officials said this reflects India’s commitment to gradual market liberalization aligned with its long-term strategic goals.

Also Read: India and New Zealand Conclude FTA Negotiations to Strengthen Bilateral Trade

On data and financial information, both countries have acknowledged each other’s right to enforce domestic laws related to data transfer, processing, and storage. The pact aims to enable cross-border digital financial operations while maintaining safeguards around data sovereignty, regulatory oversight, and consumer privacy.

Overall, the deal is expected to deepen financial cooperation, boost digital payment adoption, and strengthen bilateral trade ties between India and New Zealand, especially in fintech and financial services.

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