Stanchion fast-tracks Banzpay’s digital payments initiatives

By Leandra Monteiro

Banzpay, a New Zealand-based FinTech services provider of payments and banking solutions to financial institutions across New Zealand and the Pacific Islands, has partnered with Stanchion Payment Solutions, global specialists in payment solutions and integrations, to ensure the optimal delivery of services to their clients.

The transaction technology company has chosen Stanchion’s SwitchCare program as well as their payments application technology, VERTO. These world-class offerings allow Banzpay to deliver predictable, quality service to their customers in the highly competitive and ever-evolving payments environment, fast-tracking and future-proofing their payments digitisation journey.

“We chose to partner with Stanchion because they are payments experts who we can rely on for both our day-to-day and strategic payments needs. Their global footprint has meant that we are able to leverage their international expertise,” says Banzpay Chief Technology Officer Deane Johns.

Banzpay first implemented Stanchion’s SwitchCare program in 2018 to augment their existing operational team and leverage Stanchion global payments knowledge and 24*7 monitoring capabilities. Since then, Stanchion has become an integral part of the Banzpay Operations function with a specific focus on providing proactive support of day-to-day operational activities, enabling Banzpay to deliver a world-class service to their customers.

“The SwitchCare team identifies the specific areas where operational maturity in the payment environment can be improved and fills the gap with domain expertise, sustainable processes and specialized operational tools, effectively and efficiently helping organisations manage operational risk,” said Stanchion CEO Steve Kirrage.

Banzpay has also deployed Stanchion’s VERTO solution to enable the PIN Management functionality that underpin the services they offer to their financial institution clients. A VERTO-based Token Life Cycle Management project is also on the horizon. VERTO is Stanchion’s Digital Payment Application Server that drives payment innovation and greater digital transformation agility in traditional payment environments.