In this episode, Banking Senior Associate Emma Geard, speaks with Philip Bruno, Chief Strategy and Growth Officer at ACI Worldwide, about payments modernisation – what it is, why it matters for New Zealand right now, and the global lessons that can help guide successful implementation.
[01:14] Emma and Philip discuss ACI Worldwide's global role in payments modernisation, including its work providing payments infrastructure software and services to banks and central banks across more than 90 countries.
[02:04] They consider why payments modernisation is becoming increasingly important for New Zealand. Philip notes that although New Zealand has a strong and highly digital economy, its payments system has not fully kept pace, particularly in relation to instant payments. Emma and Philip discuss how modernisation would help ensure the payments ecosystem supports that digital strength, boosting economic growth, enabling faster everyday transactions, and positioning New Zealand to take advantage of future innovation.
[03:11] Emma and Philip explore the broader scope of payments modernisation beyond simply increasing speed. Philip explains that modern payment systems include not only instant, irrevocable fund transfers but also richer messaging and information layers that automate business processes delivering efficiency gains. He adds that modern infrastructure also paves the way for new consumer and commerce innovations, including fast peer to peer payments and seamless one click purchasing.
[05:45] Philip and Emma examine global adoption trends, highlighting Denmark as a standout success story whose approach to payment modernisation offers valuable lessons for other countries.
[07:48] Emma asks Philip about the most important decisions that could aid New Zealand’s modernisation program. Phil outlines three key lessons from overseas: build with modern, modular infrastructure; prioritise the consumer and business applications that will drive adoption and real usage; and ensure incentives are aligned across the value chain so all participants have a sustainable business case to invest.
[10:01] Lastly, they talk about the importance of designing fraud architecture into the system from the outset rather than retrofitting it later, which has proved a challenge in other jurisdictions.
Information in this episode is accurate as at the date of recording, 9 March 2026.
Please contact Emma Geard or our Banking team if you need legal advice and guidance on any of the topics discussed in the episode.
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