Open banking is growing in New Zealand! In June, Kiwibank joined the other major banks in releasing their open banking APIs, meaning Pay by Bank options like Volley are now available for over 90% of New Zealand consumers.
Here's a few updates and new features from us to help Kiwi businesses get started with Pay by Bank.
🎉 We've launched the Volley Embed
Our mission at Volley is to make Pay by Bank simple for businesses to adopt and easy for Kiwis to use.
So as part of that, today we're launching our Embed! This is a new payment experience that lets you put Volley directly on your own site, so your customers can pay without leaving your checkout.
Our Embed is inspired by payment methods like iDEAL and Wero in Europe, where payment happens seamlessly and securely in the bank app on your phone no matter where you are. All in less time than it takes to find your wallet.
Using the Embed doesn't require any significant effort on integration. Check out the developer docs or get in touch with us directly to find out more.
🔁 Recurring payments
In case you missed it: Volley now supports recurring payments!
This means you can let your customers opt in to multiple payments over time from a single approval step in their bank. It's perfect for instalments, subscriptions, usage-based billing, and regular donations. Recurring payments are the open banking answer to direct debit.
Our recurring payments API is designed as an add-on to our existing one-off APIs, so it's still just a single workflow to integrate and you can use any of our UI options (hosted or embedded).
Learn more about recurring payments
📆 Next-day Batch Settlements
Our Next-day Batch Settlement feature is now available for businesses with Kiwibank. With this release, you can connect an account you own to Volley, receive payments, and we'll automatically reconcile and settle these into a daily batch to make it easy for your finance team.
Traditionally, this would require a payment provider holding your funds (often overnight), but now with open banking and programmatic payments you can have certainty over your own funds as soon as they arrive.
It's available now for businesses banking with Kiwibank thanks to their newly-launched open banking APIs with full support for business accounts! Rollout to the other major banks coming soon.
Get in touch with us if you'd like to use Next-day Batches.
👨💻 New website and developer docs
And finally, we've relaunched our website and developer documentation to make it easier to find out how you can integrate our Pay by Bank and open banking flows into your system.
You can check it out both here: volley.nz and developers.volley.nz.
We'd love to hear any feedback or questions you have, please reach out directly to james@volley.nz.