It already has more than 600 million Chinese users. China is New Zealand’s second largest tourism market with 11 per cent Chinese visitors who spent more than $1.2bn last year.
Te number of NZ businesses which now accept Alipay has grown from 300 merchants in 2017 to around 2,500 last year. Smartplay, one of Australia and New Zealand’s leading independent EFTPOS and payment providers has also entered into an agreement with AliPay which will give over 25,000 merchants the option to accept Alipay payments.
In line with the cashless theme here have also been applications over the years from NZ casinos for various forms of cashless gaming and currently full TITO is permitted on only a limited number of existing gaming machines within the casinos.
SkyCity Auckland was the first casino permitted to offer card based and ticket based cashless gambling and Christchurch casino followed offering a limited form of cashless gaming.
At the moment the most popular form of payment in New Zealand are bank transfers followed by online payments, credit cards and EFTPOS. Just half of NZ businesses use cash and 12 per cent have shifted to
mobile payments. Plus with the abundance of Chinese visitors it seems a logical way to move forward. Already the country’s Reserve Bank and Financial
Markets Authority have found that businesses need to build a non-cash strategy to meet the demands of their digital customers because it is quicker and more secure.
GOING CASHLESS Although Scandinavian countries have been
highlighted as the forerunners in the race to go cashless, it is said New Zealand could also become cashless by 2028.
Te popularity of digital payments is huge in the country and a survey revealed 36 per cent of New Zealanders predict the economy will be cashless within 10 years.
At the moment the most popular form of payment in New Zealand are bank transfers followed by online payments, credit cards and EFTPOS. Just half of NZ businesses use cash and 12 per cent have shifted to mobile payments.
Plus with the abundance of Chinese visitors it seems a logical way to move forward.
Already the country’s Reserve Bank and Financial Markets Authority have found that businesses need to build a non-cash strategy to meet the demands of their digital customers because it is quicker and more secure.
Last year the Bank of New Zealand signed a deal with Verifone Chinese mobile payment giant Alipay to enable merchant customers to sign up for the platform. Alipay offers a digital wallet which includes a mobile app to enable people to conduct transactions via their phones.
It was an ad hoc approach where the casinos have created their own standards. When Dunedin Casino applied to introduce TITO the Department of Internal Affairs developed a minimum standard which set out the proposed technical requirements for account based cashless system via a publication called ‘Minimum Cashless Technical Requirements for Printed Ticket-In Ticket Out and Player Loyalty Account Based Cashless Gaming Technology’, which permitted cashless technology to be operated in all casinos in New Zealand with certain limitations.
Meanwhile the Department of Internal Affairs announced earlier this year an intention to have discussions about the possible adoption of cashless payments in the pokies/gambling machine sector. Since 2017 a Cash In Ticket Out (CITO) system is approved for Class 4 venues.
Jarrod True, a lawyer who is strongly against an all cashless system for non-casino machines says a TITO system is the most logical step forward (see Jarrod True’s column on page..).
Te CITO technology currently allows gamblers NEWSWIRE / INTERACTIVE / MARKET DATA P121
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