UnionPay and Payments NZ Explore Digital Payments Innovation
- Written by: Business Daily Media
- Published in PR Newswire
New Zealand is a founding member of APEC, with strong agricultural and services sectors. Since establishing diplomatic relations in 1972, China and New Zealand have steadily expanded their economic ties. China is New Zealand's largest goods trading partner, top export market, and primary source of imports, while ranking third among its international visitor markets by spending in 2025. Growing trade and travel continue to drive demand for convenient cross-border payment solutions.
Payments NZ is the governance organisation for New Zealand's core payment systems, overseeing several interbank clearing systems and industry standards. UnionPay became a member in 2015, and has continued to engage with Payments NZ since then.
Mr. Dong outlined UnionPay's global payment network and its cooperation with more than 200 digital wallets outside the China's mainland. Discussions focused on improving cross-border wallet connectivity and using QR and contactless payment solutions to meet the needs of different markets.
Executives exchanged insights on open banking, open APIs, and the development of next-generation payment systems in New Zealand. They explored opportunities for UnionPay to contribute to payment modernisation conversation.
The conversation also extended to expanding online and in-store acceptance of UnionPay cards and related payment products, including through acquiring system upgrades, improvements to in-store acceptance, and integration with online payment platforms. Other topics included agentic payments and the opportunities and regulatory challenges arising from new technologies and business models.
Mr. Wiggins outlined developments in New Zealand's payments industry and the role of Payments NZ. He welcomed the opportunity to continue dialogue with UnionPay as part of Payments NZ's broader engagement across the payments ecosystem. Mr. Dong expressed interest in working with Payments NZ and its member network to improve services for people travelling between China and New Zealand and for users of UnionPay partner wallets worldwide.
Mr. Wiggins also invited UnionPay to attend The Point 2026, an industry conference organised by Payments NZ, to exchange views with other New Zealand payment organisations on business developments and innovative products.
UnionPay entered the New Zealand market in 2008. Its acceptance coverage now exceeds 90%, and UnionPay cards are now widely issued by local financial institutions. UnionPay will continue working with partners to improve payment services, strengthen financial integration between China and other APEC economies, and advance cross-border payment cooperation between China and New Zealand and across the broader Asia-Pacific region.
