# Payap

> Source: https://docs.barcoder.ai/docs/standards/payap
> research date 2026-05-29 · extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Payap — official](https://www.payap.com/)
- [Payap — BNZ](https://www.bnz.co.nz/business-banking/payments/payap)

## Overview

**Payap** is **New Zealand's bank-account-linked QR-payment app**, backed by **Bank of New Zealand (BNZ)** + powered by **Centrapay** — designed to **sync NZ bank accounts + scan QR codes to pay** <sup>[1][1], [2][2], [New Zealand report](https://docs.barcoder.ai/docs/payments/NZ)</sup>. Customers scan **QR codes generated on EFTPOS terminals**, transferring **payments instantly from customers' bank accounts** with **funds landing in merchants' accounts the following morning**. **Multi-account payments** + **no surcharges** + **financial-management tools (spending limits, real-time tracking, cash-flow view)** + **bank-level security with fingerprint/face/PIN verification** make Payap a comprehensive consumer + merchant payment platform.

The structural significance: Payap's **0.39% merchant payment-acceptance rate** is **substantially lower than the average 1% merchant service fee reported by NZ Commerce Commission** — a **retail business turning over $100,000 monthly could save up to $7,320 annually**. This explicit **low-merchant-fee disruption strategy** positions Payap as **NZ's challenge to traditional card-network-dominated EFTPOS pricing**. **Bank of New Zealand backing** + **Centrapay technology** + **compatibility with all major NZ banks** + **QR-on-existing-EFTPOS-terminals deployment** make Payap structurally efficient — leveraging existing physical-POS infrastructure with new QR-payment layer + low-fee economics. Payap competes with **Tap & Go cards + traditional EFTPOS + emerging fintechs** in NZ's payment landscape.

## History

**Background — New Zealand payment landscape** <sup>[New Zealand report](https://docs.barcoder.ai/docs/payments/NZ)</sup>:
- **Reserve Bank of New Zealand (RBNZ)** — central bank.
- **Payments NZ** — payments-system industry body.
- Major NZ banks: ANZ NZ, ASB Bank, BNZ, Westpac NZ, Kiwibank.
- **Centrapay** — NZ payment technology company.
- Pre-Payap: traditional EFTPOS dominant, ~1% merchant service fee.

**BNZ + Centrapay Payap development** <sup>[3][3]</sup>:
- Bank + tech-company partnership.

**October 2024 — Payap launches** <sup>[3][3]</sup>:
- BNZ launches new app with low merchant fees.

**0.39% merchant payment-acceptance rate** <sup>[3][3]</sup>:
- Major disruption vs ~1% average.

**Compatibility with all major NZ banks** <sup>[3][3]</sup>:
- Multi-bank universal acceptance.

**EFTPOS-terminal QR-generation** <sup>[1][1]</sup>:
- Existing-infrastructure leverage.

## Technical specification

Payap is **BNZ + Centrapay-operated NZ QR-payment app with low merchant fees** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Operator** | **Payap** (BNZ-backed) |
| **Technology partner** | **Centrapay** |
| **Country** | New Zealand |
| **Currency** | NZD (New Zealand dollar) |
| **Launch** | October 2024 |
| **QR generation** | EFTPOS terminals |
| **Customer payment** | Instant from bank account |
| **Merchant settlement** | Following morning |
| **Merchant fee** | **0.39%** (vs ~1% NZ average) |
| **Customer surcharge** | None |
| **Bank compatibility** | All major NZ banks |
| **Authentication** | Fingerprint, face, PIN |
| **Features** | Multi-account payments, spending limits, real-time tracking, cash-flow view |

## Use cases

**Customer EFTPOS QR-payments** <sup>[1][1]</sup>: Cardinal — scan QR + pay.

**Low-merchant-fee payment acceptance** <sup>[3][3]</sup>: 0.39% vs 1% average.

**Multi-account payment splitting** <sup>[2][2]</sup>: Spread across accounts.

**Bank-account linking** <sup>[1][1]</sup>: Direct account-to-account.

**Financial-management tools** <sup>[2][2]</sup>: Spending limits, tracking.

**No-customer-surcharge model** <sup>[2][2]</sup>: Transparent pricing.

**Universal NZ-bank acceptance** <sup>[3][3]</sup>: All major banks.

## Implementations & ecosystem

**Operator**: **Payap** (Bank of New Zealand-backed).

**Technology partner**: **Centrapay**.

**Bank compatibility**: All major NZ banks (ANZ, ASB, BNZ, Westpac, Kiwibank).

**Regulator**: **Reserve Bank of New Zealand (RBNZ)** + **Commerce Commission**.

**App distribution**: iOS App Store, Google Play.

## Fun facts

- **0.39% merchant fee vs ~1% NZ average**: Major fee-disruption.
- **$7,320 annual savings for $100K-monthly-turnover retail business**: Concrete benefit.
- **BNZ + Centrapay partnership**: Bank + tech collaboration.
- **EFTPOS-terminal QR-generation**: Existing-infrastructure leverage.
- **Multi-account payment splitting**: Innovative UX.
- **Customer-instant + merchant-next-morning settlement**: Mixed-speed model.
- **All major NZ banks compatible**: Universal access.
- **No-surcharge model**: Transparent pricing.

## Comparison

| Feature | Payap (NZ) | [Swish QR](https://docs.barcoder.ai/docs/standards/swish-qr) (SE) | [Bizum](https://docs.barcoder.ai/docs/standards/bizum) (ES) | [Zippay](https://docs.barcoder.ai/docs/standards/zippay) (IE) | [Toke](https://docs.barcoder.ai/docs/standards/toke) (UY) |
|---|---|---|---|---|---|
| Operator | **Payap (BNZ-backed)** | Swedish bank consortium | Spanish bank consortium | Bank of Ireland + AIB + PTSB | Urutec + BCU |
| Type | **Bank-account-linked QR + low merchant fees** | Bank-consortium P2P | Bank-consortium P2P | Bank-consortium P2P | QR-payment with bank-system integration |
| Country | New Zealand | Sweden | Spain | Ireland | Uruguay |
| Tech partner | **Centrapay** | n/a | n/a | Nexi | Urutec |
| Merchant fee | **0.39%** | Variable | Variable | Variable | n/a |

## Status

**Active** <sup>[1][1], [2][2]</sup>:
- **Payap operator (BNZ-backed)**.
- **Centrapay technology**.
- **October 2024 launch**.
- **0.39% merchant fee**.
- **All major NZ banks compatible**.
- **EFTPOS-terminal QR-generation**.

## Sources

[1]: https://www.payap.com/ "Payap — official"
[2]: https://www.bnz.co.nz/business-banking/payments/payap "Payap — BNZ"
[3]: https://www.interest.co.nz/technology/130472/compatible-all-major-banks-and-low-merchant-fees-bnzs-payap-promises-simpler-low "BNZ Payap merchant fees — Interest.co.nz"
[bnz-blog]: https://blog.bnz.co.nz/2024/10/new-app-set-to-slash-payment-fees-and-transform-how-nzers-manage-their-money "Payap launch — BNZ Debrief"
[people]: https://www.payap.com/people "Payap — people"

- [1] [Payap — official][1]
- [2] [Payap — BNZ][2]
- [3] [BNZ Payap merchant fees — Interest.co.nz][3]
- [bnz-blog] [Payap launch — BNZ Debrief][bnz-blog]
- <sup>[New Zealand report](https://docs.barcoder.ai/docs/payments/NZ)</sup> `reports/countries/NZ-new-zealand.md`

## Deployments

Found in the following country reports (grep across `reports/countries/`):

- **NZ** — [NZ-new-zealand.md](https://docs.barcoder.ai/docs/payments/NZ)