Pay bills easily and securely with Online EFTPOS - Repeat Pay. Card-free, direct-from-bank transfers in New Zealand. set up once, then pay automatically with control.
Online EFTPOS – Repeat Pay is now available, offering a simpler way to manage your bill payments. Building on Online EFTPOS—the first open banking payment solution in NZ—this enables you to pay your regular bills in a set-and-forget manner.
Online EFTPOS – Repeat Pay leverages open banking technology, something Paymark has been at the forefront of in New Zealand, pioneering Online EFTPOS back in 2016 and continuing to push secure, open banking payments today. We’re passionate about the value open banking can unlock for merchants and everyday Kiwis.
Online EFTPOS – Repeat Pay is a highly secure and low-cost way to make payments and be paid. It’s a direct, card-free payment from your bank account to the business, designed to transform how kiwis pay regular and ongoing bills like power, insurance, and rates, offering an easy alternative to the older Direct Debit model, but where you are in control.
To bring this to life in a real-life example, meet Kate, a new customer with a power company. She visits the power company’s website, logs into her account, and sets up Online EFTPOS – Repeat Pay. No forms, no paperwork—she can do it in just a few minutes. When it’s bill time, Kate receives a notification about the amount shortly before it’s charged. Because Online EFTPOS - Repeat Pay is set up, her power bill simply comes out of her account automatically, with no manual taps or approvals on her banking app needed.
The upside for Kate is a predictable, convenient way to stay on top of bills with control and ease, and the upside for the power company is a smoother payment experience for customers, with less back-and-forth and a reliable cash flow. The beauty of Online EFTPOS - Repeat Pay is that Kate—and other customers of the power company—are in control, because Kate can delete or cancel the payment at any time. Online EFTPOS - Repeat Pay is card-free and direct: payments go straight from your account to the business. It also offers peace of mind because you can set a maximum daily amount to avoid surprises, and there’s less admin and more clarity.
Online EFTPOS – Repeat Pay is a smarter, simpler way to handle everyday payments in New Zealand. By making bill payments easier, more predictable, and more controllable, Paymark NZ is helping Kiwis take the drama out of life admin—one bill at a time.
If you’re business wants to get ahead with this innovative and value-add solution, contact the team at Paymark today.