BNZ has launched Payap with Centrapay. Payap is New Zealand's first digital wallet and Point of Sale app. It uses Open Banking and Pay By Bank to deliver QR code driven payments at 60% to 80% lower cost than card payments for merchants. Merchants will be able to use the app to create and manage loyalty programs. For customers, Payap will bring together all accounts from New Zealand banks, loyalty and gift cards in a digital wallet from March next year. BNZ’s also invested in Centrapay to enhance digital payments capabilities.