Retail Payment System Act 2022

Preliminary provisions

3: Purpose

You could also call this:

"Making payments easier and better for New Zealanders"

Illustration for Retail Payment System Act 2022

The purpose of this Act is to help competition and efficiency in the retail payment system. This is for the long-term benefit of merchants and consumers in New Zealand. You can think of it as making payments easier and better for people in New Zealand.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS528086.

This page was last updated on 25 December 2025 — View changes

Topics:

Money and consumer rights > Consumer protectionMoney and consumer rights > Banking and loans

2: Commencement, or

"When the Retail Payment System Act 2022 starts"

4: Purpose and principles of exercising functions and powers under this Act, or

"How the government makes fair decisions about payment systems"

Part 1Preliminary provisions

3Purpose

The purpose of this Act is to promote competition and efficiency in the retail payment system for the long-term benefit of merchants and consumers in New Zealand.