Payments NZ is responsible for the day-to-day operations of the API Centre.
As the centre is part of Payments NZ Limited, its corporate governance falls to the Payments NZ Board. However, most of the governance responsibilities of the centre has been delegated to the API Council. The council includes an independent sub-committee which deals with sensitive issues. The API Council receives guidance and recommendations from working groups made up of Standards User representatives – the Business Group, Technical Group, and ad hoc project groups who are in turn directed by the API Council.
Any contractual arrangements are with Payments NZ and all fees are paid to Payments NZ.
Alignment with Payments NZ
The API Centre is part of Payments NZ, the governance organisation at the heart of Aotearoa New Zealand’s payments system. Payments NZ strives to make sure payments are simple and secure for Aotearoa. The API Centre is designed to ensure we are closely aligned with the overarching goal and the Payments NZ vision and mission, which are:
- Vision – Payments NZ will lead the world’s most progressive, self-governing payments industry. We will enable innovative and interoperable payments systems so Kiwi can pay who they want, when they want and how they want.
- Mission – We strengthen the industry by being a recognised authority on payments systems, through effective governance, a team of capable experts and with input from stakeholders. We enable inclusion in the ecosystem and promote interoperable, innovative, safe, open, and efficient payment systems for Aotearoa.
Payments NZ Board
The Payments NZ Board of Directors is ultimately responsible and accountable for the corporate governance of the API Centre and the functions it undertakes. The Board’s roles include:
- Approval of the annual business plan and fees schedule.
- Approval to publish the Minimum Open Banking Implementation Plan.
- Delegation of authority for day-to-day governance decision making to the API Council.
- Appointments to the API Council, including the chair and independent members.
Chief Executive and management
The Payments NZ Chief Executive and management team are responsible for working with the API Council, and the daily operation and delivery of the API Centre. The Chief Executive also considers applications from API Providers and Third Parties wanting to register as a Standards User. For more information about the application process, see Join the API Centre.