Payments NZ is pleased to announce that Co-op Money NZ’s application to become a direct settlement participant in its Bulk Electronic Clearing System (BECS) has been approved.

Co-op Money NZ will start participating in BECS in 2017 once it has completed industry testing.

“We are delighted to be the first non-registered bank to join BECS. We have been successfully operating in the payments space for two decades and it is great to take this next step to enable us to better support our Members and customers, which is an important part of our growth and development plan.” said Henry Lynch, CEO of Co-op Money NZ.

Click here to read the full press release