{"id":368332,"date":"2025-12-24T06:55:15","date_gmt":"2025-12-24T06:55:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/368332\/"},"modified":"2025-12-24T06:55:15","modified_gmt":"2025-12-24T06:55:15","slug":"india-new-zealand-deal-to-boost-payment-interoperability","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/368332\/","title":{"rendered":"India-New Zealand deal to boost payment interoperability"},"content":{"rendered":"<p> <img src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/12\/image-ians.jpg\" alt=\"India-New Zealand deal to boost payment interoperability\" title=\"Image: IANS \" decoding=\"async\" fetchpriority=\"high\"\/> NEW DELHI: India and New Zealand have committed to collaborate on developing domestic payments interoperability and supporting real-time cross-border remittances and merchant payments through the integrated Fast Payment Systems (FPS) as part of the trade pact agreed between the two countries.This move strengthens India&#8217;s digital payments ecosystem and fintech sector, enhances remittance flows from the Indian diaspora, creates market opportunities for Indian payment service providers and leverages India&#8217;s technological expertise in digital payment systems, such as <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/upi\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\" rel=\"nofollow noopener\" target=\"_blank\">UPI<\/a> and NPCI.An official statement said India&#8217;s sectoral offers represent a forward-looking liberalisation approach, with enhanced FDI limits in banking and insurance. There is also a liberalised bank branch licensing framework, allowing up to 15 bank branches to be set up over four-years. &#8220;This is a significant expansion from the previously offered GATS limits of 12 branches. These offers will enable Indian financial service suppliers to expand operations into New Zealand, strengthening India&#8217;s position in financial services exports and cultivating progressive sectoral growth,&#8221; the statement added. It said the move also positions New Zealand&#8217;s financial institutions competitively in India&#8217;s rapidly expanding financial services market, while reflecting New Delhi&#8217;s commitment to market liberalisation in line with its broader strategic objectives.With regard to transfer and protection of financial information both countries have recognized each party&#8217;s right to maintain legislative and regulatory requirements linked to the transfer, processing and storage of financial information, and aims to facilitate financial service suppliers to establish cross-border digital operations while ensuring regulatory control over data sovereignty and consumer privacy protections.<\/p>\n","protected":false},"excerpt":{"rendered":"NEW DELHI: India and New Zealand have committed to collaborate on developing domestic payments interoperability and supporting real-time&hellip;\n","protected":false},"author":2,"featured_media":368333,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,199684,199681,199683,207,164,199682,199686,199685,199679,199680,209],"class_list":["post-368332","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-consumer-privacy-protections","tag-cross-border-remittances","tag-digital-payment-systems","tag-digital-payments","tag-economy","tag-fast-payment-systems","tag-fdi-in-banking","tag-financial-services-liberalization","tag-india-nz-trade-agreement","tag-payment-interoperability","tag-upi"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/368332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=368332"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/368332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/368333"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=368332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=368332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=368332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}