Confirmation of Payee now available beyond the banking sector

The move extends the protections of the Confirmation of Payee service beyond the banking sector, helping to make payments safer across a broader range of users and providers.

“We’re currently servicing approximately 95% of New Zealanders with personal bank accounts, and it’s important the service be distributed more widely across users and providers so that more payments have this protection,” says Duncan Robertson, CEO of anti-scam delivery centre, GetVerified.

GetVerified’s first non-bank customers include Hnry, CentrePort, Health New Zealand | Te Whatu Ora and Givealittle, with more to follow in the coming months.

“We’re delighted to welcome these early customers and we’re encouraging interested banks, non-banks, fintechs, businesses and government agencies to reach out to us now so we can help them plan for adoption early next year,” says Robertson. “By starting early, organisations can be ready to integrate and give their customers greater peace of mind.”

Robertson says the move reflects New Zealanders’ growing confidence in using the solution since the initial release in November 2024.

“The data shows a steady increase in matching rates since November 2024. This gives us confidence that more and more people understand the service and are using it effectively. That strong foundation is what’s enabled us to extend the service more widely.”

While this is the desired effect, Robertson also reminds New Zealanders that a ‘Match’ result doesn’t always mean a transaction is safe. The solution relies on real-time account information – and scam tactics are continually evolving.

“It’s still extremely important that New Zealanders are confident they can trust the recipient of a payment before they send money.”

Robertson says they are extending the Confirmation of Payee service through two service offerings: Verify+ and VerifyBiz.

• Verify+ extends the existing service beyond banks to include non-bank organisations such as fintechs, credit unions and other deposit takers – helping them protect their customers.
• VerifyBiz provides direct access for businesses and government agencies, enabling them to verify account details earlier and more often, outside banking channels and payment processes.

For more information see: www.getverified.co.nz/for-business