![7 Best POS Software in the UK [2026 Edition]](https://todaynews.co.uk/wp-content/uploads/2026/02/7-Best-POS-Software-in-the-UK-2026-Edition-360x180.png)
Fintech has spearheaded some tremendous financial enhancements over the last twenty years. While this might mean we no longer have to count out coins at the counter or stand and enter our PIN on the EFTPOS terminal, businesses in New Zealand have had to adapt to this rapid change in the sophistication of payment technology.
Online businesses have been able to adjust more quickly than land-based businesses in NZ. But there’s no dispute that the innovations have resulted in a total change in payments across the supply chain.
Early Use in Casino Gaming
Some of the earliest implementations of new payment systems took place in the online casino sector. While land-based casinos had a strong presence in the NZ market, and still do, online payments started to transform the industry globally, first in the UK.
Still, due to the closeness and parity between the UK and NZ, especially in their approach to casino gaming laws, it wasn’t long before online casinos were revolutionising the way people withdrew and deposited their funds. While an online casino in New Zealand might have more minor differences—such as the currencies used and localised terminology, such as “pokies”—the platforms, especially how people deposit onto the online casino, mirror a lot of other Western markets.
By the mid-2000s, the UK Gambling Act 2005 had transformed how gamblers placed bets in the UK. Gone were the days of only land-based casinos that handled vast amounts of cash. Instead, the market had shifted online, focussing on new payment methods, such as PayPal, Neteller, and VISA card transactions—but as this shift took place in the online casino world and then moved into other areas of business, how did this impact global commerce and business in New Zealand?
Injecting Convenience Into the New Zealand Economy
Online payments have made our world a lot more streamlined and quick. As discussed in our introduction, we no longer have to make cash payments in shops, count out our coins, or expect change. A growing number of Kiwis use contactless payment options, whether with their physical card or the e-wallet on their smartphone.
The rise of Apple Pay and Android Pay has turned fintech into a global industry titan—projected to be worth nearly $3 trillion by 2026. The initial rise of online payments meant that businesses, if viable, could shift their operations online, and free up time to focus on other aspects of growth.
Online payment systems becoming such a huge part of the global economy meant that New Zealand businesses could enhance their payment options, cut out administrative costs such as paying cash into the bank and the fees that come with it and delegate their employees to perform other tasks that will help the business improve.
This streamlining has improved the entire supply chain for businesses, especially those that deal with large payments. Instead of having to deal specifically with the bank manager, and the sign offs and checks that used to come with large cheque payments, online payments expedited the payment, regardless of the size.
It removed the reliance that certain businesses had to constantly go to the physical branch. And while a lot of this change took place over the last 20 years, the rise of mobile apps that fuse online payment technology with business banking has further enhanced the speed and convenience of these fintech solutions.
Breaking Down International Barriers
Although some business banks in New Zealand will provide a secure and relatively smooth service for their corporate customers, those smaller businesses that were counting every cent would have to think twice about sending money overseas or receiving money from international clients. Both ends would usually incur a fee and, to be fair to banks, it wasn’t necessarily their fault.
Convoluted systems that would take days, incur fees and be subject to significant volatility (depending on the currency) were all headaches for international Kiwi businesses. However, the rise of online payments has addressed three things: security, the middle ground, and speed.
That’s not to say the whole market is more efficient, PayPal recently found themselves in hot water with the FCA in the UK due to their approach to buy now, pay later. For businesses in New Zealand, PayPal offers conversion rates into the US dollar, acting as a bridge currency, meaning that the NZD is better shielded against the fluctuations and volatility of international payments.
Not only has this made it easier for businesses sending money abroad, but it’s resulted in competitive transnational online payment systems, including Wise—which has even smaller fees than PayPal.
By breaking down said barriers, it encourages businesses to branch out, look to do more business with companies in other parts of the world and contribute more positively to a world that continues to become more intertwined because of the enhancements in online technology and payment innovation.
Conclusion
As with so many other innovations that have taken place in the financial and business worlds over the last 20 years, the reason online payment transformation has been so impactful has been down to the implementation right across the business world. It wouldn’t make sense for Kiwi companies to go all in on online payments if countries like Australia and the UK, who also happen to be key trading partners, weren’t following suit.
It’s a collective effort, and as the growth in online payments has resulted in an economic environment where businesses don’t feel as far away as they physically are. This is down to a number of factors, whether it’s through the rise of social media, international payment systems, or a more interconnected global economy.
The fact remains that it is those businesses in New Zealand that have embraced this change that have been able to stand themselves in the most advantageous position in the market. Once customers started opting toward online payments rather than traditional payment systems, it was those businesses that had a plan in place that ultimately reaped the rewards, and they have left themselves flexible enough to adapt to new digital changes in the market.
David Prior
David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.
