Paymark
- Company typePrivate
- Founded1989
- HeadquartersAuckland, New Zealand
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Paymark does
Paymark (now operating as Cuscal Paymark) is New Zealand's incumbent payment infrastructure provider, founded in 1989 to launch EFTPOS in the country and responsible for processing 1.2–1.4 billion electronic transactions annually across the national network. The company operates a unified multi-channel payments platform spanning in-store (EFTPOS, Tap on Mobile SoftPOS, Tap to Pay on iPhone, Direct Pay), online (Click eCommerce gateway, Online EFTPOS open banking payments, Repeat Pay recurring billing), and data products (Insights merchant dashboard, Corporate Insights enterprise analytics).
The core technology stack is built on open banking infrastructure, with direct API integration to all four major New Zealand banks (ANZ, ASB, BNZ, Westpac). Online EFTPOS, launched in 2016, was New Zealand's first open banking payment solution and has processed over NZD $1 billion in cumulative spend. The platform is PCI DSS compliant and accredited under the Consumer Data Right, regulated by MBIE. Tap on Mobile represents the company's SoftPOS offering, eliminating the need for dedicated payment terminals by turning smartphones and tablets into contactless acceptance devices, with support for Visa, Mastercard, Apple Pay, Google Pay, and open banking rails.
Paymark monetizes primarily through transaction-based fees (approximately 1% on Online EFTPOS, pay-per-transaction on Tap on Mobile) with overnight settlement, supplemented by subscription revenue from Corporate Insights and custom enterprise pricing. Distribution combines direct enterprise sales with a 28+ accredited reseller network for SMB acquisition and self-service online onboarding. In April 2026, Paymark was acquired by Australian acquirer Cuscal Limited (ASX:CCL) for $19 million, integrating into Cuscal's payment processing infrastructure under the Cuscal Paymark brand while operating on Worldline-hosted technology.
Paymark firmographics
Firmographics- Name
- Paymark
- Legal name
- Paymark Limited
- Website
- https://paymark.co.nz
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Paymark industry classification
Industry- Product category
- Payment Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Activities Related to Credit Intermediation (5223), Convenience Retailers and Vending Machine Operators (44513)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)
- akta.pro secondary industries
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)
Keywords
Where Paymark is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices1 record
Markets served
Paymark business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Payment Processing Services: Transaction-based revenue from processing electronic payments across EFTPOS, online, and mobile channels. Merchants pay processing fees per transaction. Online EFTPOS typically costs approximately 1% per transaction with overnight settlement and no chargebacks. Pay-per-transaction model for Tap on Mobile.
- Data & Insights Services: Corporate Insights and Insights products provide data analytics services to businesses, leveraging over 1.2 billion transactions annually to deliver consumer spending behavior, demographics, competitive benchmarks, and growth strategies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Online EFTPOS - Approximately 1% transaction cost |
| Transaction based/ take rate | Pay-as-you-go | Tap on Mobile - Pay-per-transaction model |
| Other | Multi-year contract | Enterprise Integration - Custom pricing |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Paymark product offering
Product offeringCore offering
Paymark provides end-to-end payment processing infrastructure for New Zealand merchants across in-store (EFTPOS terminals), online (Click eCommerce gateway), open banking (Online EFTPOS account-to-account payments), and mobile (Tap on Mobile SoftPOS) channels. The platform is underpinned by the proprietary OPEN open banking payments platform integrated with all four major NZ banks, and is augmented by data insights products built on 1.2–1.4 billion annual transactions.
Product overview
Paymark (now operating as Cuscal Paymark following acquisition by Australian licensed acquirer Cuscal) operates a unified multi-channel payments platform serving New Zealand businesses. The core portfolio includes EFTPOS (traditional in-store terminal payments), Online EFTPOS (open banking online payments, NZ's first since 2016), Click/eCommerce Payments (online payment gateway with Hosted Payment Page and API integration), and Tap on Mobile (SoftPOS turning smartphones into payment terminals). Supporting products include Direct Pay (QR-based open banking in-person payments), Online EFTPOS - Repeat Pay (recurring bank account payments), Tap to Pay on iPhone, Insights (real-time merchant dashboard), and Corporate Insights (enterprise analytics with 1.2B transactions/year). The platform is backed by open banking technology, integrates with all major NZ banks, and offers API access for developer integration.
Differentiator
Problem solved
Functional benefit
Products and services
- EFTPOS Traditional point-of-sale terminal-based electronic payment system for in-store card transactions. The foundational product that made New Zealand a world leader in electronic payments since 1989, trusted by Kiwi retailers for over 35 years. Sold to NZ retailers of all sizes.
- Online EFTPOS Open banking payment solution enabling customers to pay directly from their bank account online via mobile number and bank app approval. New Zealand's first open banking payment solution launched in 2016, with $1 billion in cumulative spend. Sold to NZ online merchants and eCommerce businesses.
- Click (eCommerce Payments) Online payment gateway for eCommerce websites offering secure card payments, Hosted Payment Page, Custom Checkout, tokenization, 3D Secure support, and overnight settlements. Includes pay-by-link and e-Terminal no-code options. Built on REST APIs (Web Payments, Transaction Processing, Token Management) with sandbox and production environments. Sold to NZ online merchants.
- Tap on Mobile SoftPOS solution enabling merchants to accept contactless payments via their smartphone or tablet. Accepts Visa, Mastercard, Apple Pay, Google Pay, and supports open banking payments (Online EFTPOS, Direct Pay). Eliminates need for traditional payment terminals. Sold to NZ SMB and mobile merchants through direct sales and accredited resellers.
- Insights Real-time sales, revenue, and customer loyalty reporting dashboard for merchants. Provides live reporting of sales, revenue, customer numbers, top cards used, new vs. return customer tracking, and comparison to previous day/week. Sold as a recurring subscription to NZ merchants using the Paymark network.
- Corporate Insights Enterprise-level analytics service processing 1.2 billion transactions annually across Paymark's network. Provides consumer spending behaviour analysis, demographic insights, competitive benchmarks, customer origin data, and growth strategies by combining transaction data with mapping, surveys, and research partners (Marketview, Perceptive, TRA, Datamine). Sold to large NZ enterprises seeking strategic insights.
Quantifiable outcome
- NZD $1 billion in spend processed through Online EFTPOS
- +4 more outcomes
Companies that use Paymark
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Paymark technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature6 records
Paymark partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- WorldlinecoreWorldline is the parent company of Cuscal. Worldline is a global payment services provider and Paymark's solutions are integrated with Worldline's technology platform, including hosting (AWS Sydney) and shared technology infrastructure.
- EFTPOS CentralcoreAccredited reseller of Paymark's Tap on Mobile solution in New Zealand. Handles merchant onboarding, terminal provision, and ongoing support for small and medium businesses.
- Polygon PaymentscoreAccredited reseller of Paymark's Tap on Mobile solution in New Zealand. Provides payment solutions and merchant services for businesses adopting mobile payment technology.
- PosMatecoreAccredited reseller of Paymark's Tap on Mobile solution in New Zealand. Offers POS and payment solutions to merchants looking to accept mobile payments.
- New Zealand Major BankscorePaymark has integrated APIs with all four major NZ banks (ANZ, ASB, BNZ, Westpac) enabling open banking payment services. This integration is fundamental to Online EFTPOS and Direct Pay functionality, providing ubiquity and nationwide coverage.
- Department of Internal Affairs (DIA)minorWorking with DIA to connect to their system for testing age validation and other digital identity use cases in-store. Part of Paymark's digital identity infrastructure development.
- Acquiring BankscorePartnership with acquiring banks for payment processing. Banks assess merchant sites and advise Paymark on integration types and transaction types, while Paymark handles payment processing infrastructure.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Paymark competitors and assessment
Company assessmentDirect peers
- Adyen: Global unified payments platform serving enterprise merchants across in-store, online, and mobile channels. Competes with Paymark's Click, Tap on Mobile, and EFTPOS offerings for enterprise retailers in NZ, especially multinationals seeking single-vendor global processing.
- Stripe: Global payments platform offering merchant acceptance, online checkout, and an expanding suite of A2A and open banking payment methods. Competes with Paymark Click and Online EFTPOS for NZ eCommerce and online merchants, and brings global scale and developer-first tooling.
- POLi Payments: Australia/NZ account-to-account payment method enabling direct bank-to-bank online payments. Competes directly with Paymark's Online EFTPOS in the ANZ open banking and online A2A space, targeting similar merchants and consumer use cases.
- SumUp: European-headquartered mobile payment terminal and SoftPOS provider serving SMBs globally. Competes with Paymark's Tap on Mobile in the mobile contactless acceptance space, particularly for small merchants, market traders, and on-the-go service businesses.
- Windcave: New Zealand-headquartered payment processor offering EFTPOS, online, and mobile payment solutions to local merchants. Most direct domestic competitor to Paymark, competing head-to-head for NZ retail and eCommerce volumes with similar products and pricing models.
- Square (Block): Provider of SoftPOS and integrated payments solutions for SMBs via smartphones and tablets. Directly competes with Paymark's Tap on Mobile for mobile-based card acceptance and SMB merchant onboarding, with a stronger international footprint.
Broad incumbents
- Fiserv: Global payments and financial technology provider offering merchant acquiring, EFTPOS and Clover POS solutions. Comparable as a broad incumbent competing in NZ through Clover and First Data rails, particularly for mid-market and enterprise merchants.
- Global Payments: Major global payment processing and software provider with merchant acquiring and integrated POS offerings. Overlaps with Paymark's enterprise and SMB acquiring businesses, especially for multi-national merchants operating in NZ.
- Worldline: European-headquartered global payment services provider and ultimate parent of Cuscal/Paymark. Operates merchant acquiring, terminals, and digital payments at global scale; comparable as the broader payments incumbent whose infrastructure Paymark now sits within.
Others
- Verifone: Global provider of payment terminals and EFTPOS hardware used by acquirers including Paymark. Comparable as the underlying infrastructure layer for in-store card acceptance; a key supplier/partner rather than direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Paymark social profiles
Digital presencePaymark compliance and trust
Trust signalCompliance2 records
Paymark financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paymark leadership team
Management profileNumber of profiles
Profiles6 records
Paymark funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paymark M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paymark
What does Paymark do?
Paymark provides end-to-end payment processing infrastructure for New Zealand merchants across in-store (EFTPOS terminals), online (Click eCommerce gateway), open banking (Online EFTPOS account-to-account payments), and mobile (Tap on Mobile SoftPOS) channels. The platform is underpinned by the proprietary OPEN open banking payments platform integrated with all four major NZ banks, and is augmented by data insights products built on 1.2–1.4 billion annual transactions.
Is Paymark a public or private company?
Paymark is a private company. It is classified as corporate owned and is currently operating.
When was Paymark founded?
Paymark was founded in 1989. It employs 51 to 100 people.
Where is Paymark based?
Paymark is headquartered in Auckland, New Zealand, in the Oceania region.
How does Paymark make money?
Two revenue lines are on record. Payment Processing Services are the primary driver. The others are data & Insights Services.
Who are Paymark's main competitors?
Direct peers on record are Adyen, Stripe, POLi Payments, SumUp, Windcave and Square (Block). Broad incumbents are Fiserv, Global Payments and Worldline. Verifone is listed as an others.
Does Paymark have an API?
Yes. Paymark offers comprehensive eCommerce APIs for CLICK (card payments) and Online EFTPOS (open banking payments). The REST APIs include: Web Payments API for creating hosted payment pages and tokenizing cards; Transaction Processing API for merchant-hosted payments including purchases, authorizations, status checks, captures, cancellations, and refunds; Token Management API for retrieving, updating and removing stored payment/card tokens; Reporting Service; and Marketing Token service. Supports 3D Secure, custom checkout with iFrames, and hosted payment page integration. Authentication via username/password in request body or base64-encoded HTTP header. Sandbox/testing environment available at uat.paymarkclick.co.nz with demo accounts at demo.paymarkclick.co.nz. Production endpoints: secure.paymarkclick.co.nz/api. Developer documentation is at developer.paymark.co.nz/click.
What industry is Paymark in?
Paymark's product category is Payment Processing Services. Its primary akta.pro industry code is FSAMAFAC, Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant), with a secondary code of FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions. Its NAICS code is 522320 and its SIC code is 6021.