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Get the latest retailer news on the New Zealand economy and merchant business in our monthly Retailer News. Each issue covers a range of topics, including merchant service updates, credit card fraud, and economic commentary from BNZ Chief Economist Tony Alexander.

If you have any queries regarding any of these articles, or your Merchant Facility in general please contact BNZ's EFTPOS & Internet Merchant Sales and Services team on 0800 737 774, Option 4.

In the latest Retailer News

February 2016,  see previous articles

Tony’s Take – Economic commentary from BNZ Chief Economist Tony Alexander

The year has started badly for investors in the sharemarket and for producers of commodities, like oil and iron ore, because of worries about the Chinese economy along with deep recessions in many previously strongly growing economies such as Russia and Brazil.

Does this mean Kiwi consumers will soon start reining in their spending? Not really. Few Kiwis hold shares outside of what they have in their KiwiSaver accounts and changes in fund totals will go largely unnoticed by almost all investors, except those about to retire.

Instead Kiwis have their wealth mainly in property and with Auckland now viewed as highly expensive, buyers have turned their attention to the regions where prices are now rising rapidly. For the typical Kiwi, paper wealth is rising, not falling.

Thus if there is any sort of a wealth effect on NZ consumer spending it will still be positive. Add a climate with still surging record net migration inflows, and low interest rates, and the scene remains set for good retail spending growth this year.

BNZ PayClip and MYOB ‘OnTheGo’ integration

Whether you’re a tradesperson, a landscape gardener, or a mobile hairdresser, PayClip® is the fast, convenient, portable way to accept payments wherever you have data coverage. PayClip is a mobile payment device that connects to your Apple™ or Android™ compatible smartphone via Bluetooth®. Together with the free BNZ PayClip app, you’ll be able to process payments on the spot via contactless, swipe, chip, and PIN from Eftpos cards and both Visa and MasterCard credit and debit cards.

Now you can really take care of business with MYOB’s OnTheGo* accounting app which integrates with PayClip so you can stay on top of invoicing, while you’re on the go. From your smartphone, create, edit or send invoices and check or follow up payments to reconcile your accounts in real time.

With PayClip and MYOB ‘OnTheGo’ you can:

  • Get paid fast – accept payments on your smartphone wherever you do business
  • Manage cash flow – stay on top of invoicing and track in & out going payments
  • Save time – no need to re-enter customer, invoice, or payment data in the office

Find out more about PayClip.

*An MYOB accounting package is required to use ‘OnTheGo’. Contact MYOB on freephone 0800 60 69 62 or visit to discuss their packages.

Read more in the latest Retailer News PDF 36KB 02.2016

Any questions?

If you have any questions, or need some help, please contact our EFTPOS & Internet Merchant Sales and Services team on 0800 737 774, Option 4.

Previous Retailer News articles