How Lightning Pay Is Disrupting New Zealand’s Financial System
Three Kiwi entrepreneurs—Simon Collins, Rob Clarkson, and Brandon Bucher—are reshaping the country’s financial landscape. Their company, Lightning Pay, is making Bitcoin accessible to everyday New Zealanders, offering an alternative to the traditional financial system that’s often burdened with high fees and inflation.
Using the Lightning Network, a layer built on top of Bitcoin, Lightning Pay is enabling fast, low-cost transactions between merchants and consumers. In doing so, they are not just changing how we spend; they are transforming how we save. The goal? To create a financial ecosystem that preserves and even enhances purchasing power over time, providing a new way for New Zealanders to build wealth.
Bitcoin offers a better way to save, without needing to constantly reinvest or worry about losing value to inflation. You can simply hold Bitcoin and let it work for you.
The Problem: High Fees, Inflation, and Limited Financial Options
There are over 160 currencies in the world, of which the New Zealand dollar is just one. Each of them have a local monopoly in the country they’re issued in. It used to be just in developing countries that high inflation quickly eroded people’s purchasing power. But, even in countries with supposedly well managed, or dominant currencies, inflation now quickly reduces the purchasing power of people’s savings. This has created an issue that didn’t exist prior to the significant debts and deficits that governments now run - in order to save your wealth you now have to earn it twice. First when you earn it through your job, and second when you need to learn how to invest it in order to prevent it from being inflated away. “People shouldn’t need to become investors,” Simon explains. “Bitcoin offers a better way to save, without needing to constantly reinvest or worry about losing value to inflation. You can simply hold Bitcoin and let it work for you.”
A Seamless Solution: Connecting Merchants and Consumers
“We started Lightning Pay because we saw that the kind of services we now offer were available in other countries, but not here.” Say the team. “Bitcoin only services are widespread around the world and Lightning Network is connecting people with instant, ultra-low cost, private transactions almost everywhere but in the South Pacific.” But it goes beyond just a market opportunity.
“We see a financial system that just doesn’t work for people in this country” says Simon Collins, Chief Revenue Officer of Lightning Pay. “Money is broken - we can see this because no matter what interest rates are, inflation is sticking around. This is because there’s just so many dollars out there that they’re worth less and less. Bitcoin on the other hand is a financial system without inflation in fact it’s the opposite - it’s deflationary, with less and less bitcoin being issued over time”. So while people saving in dollars see a reduction in the value of those savings over time, people who save in Bitcoin see their purchasing power increase.
The core of Lightning Pay’s innovation lies in its ability to connect this old financial system to the new, decentalised one. By building an interface between new open banking protocols and the lightning network Lightning Pay can conduct exchanges between dollars and bitcoin instantly. In the past this would have taken hours or even days. So now, Kiwis can save and spend in Bitcoin without the fuss and hassle that it required previously. “You get the best of both worlds - real world payments in real time but using a superior, fairer, and faster financial system.
In any given year except one in the last ten, Bitcoin has been the best performing asset. This is what makes it so compelling as what we call a savings technology.
Bitcoin’s Volatility
The team at Lightning Pay believes that Bitcoin’s reputation for volatility is both overstated and unfairly attributed to the asset itself. The fact is that Bitcoin is less volatile than a lot of assets. It acts more and more like a store of value than a speculative gamble. In fact while global share prices have taken a beating in 2025 Bitcoin has held its value exceptionally well. “In any given year except one in the last ten, Bitcoin has been the best performing asset.” “This is what makes it so compelling as what we call a savings technology.” Which is incredibly useful because to preserve your wealth nowadays you need to in some ways earn it twice - first when going to work, and second when you have to learn to become an investor and make decisions about where to put it.
“Historically, people didn’t need to invest to save. But with flat currencies devaluing due to inflation, investing became a necessity. But most people aren’t qualified investors. Nor would they want to be, nor should they have to be. Bitcoin, however, isn’t an investment. It’s a little bit like going back to the old days when you could start a savings account for your house deposit, or your children’s education and expect that money to still be as valuable as when you put it in. Instead of being inflated away, Bitcoin will steadily increase your purchasing power over time."
With over 470 million users worldwide and growing institutional adoption, Bitcoin’s future looks increasingly secure, making it a compelling choice for those looking to preserve their wealth.
The Founding Team: Diverse Expertise and Shared Vision
The founding team behind Lightning Pay brings a unique blend of expertise, ranging from legal tech to product management to software development. Simon Collins, transitioned from academia and consulting to Bitcoin. Brandon Bucher has decades of experience as a product executive in technology. Rob Clarkson is a software developer who has focused on Lightning Network for several years. Having met at Bitcoin meetups around New Zealand they saw the urgent need for a homegrown Bitcoin-only services company that could give Kiwis the experience and products that they were lacking access to.
Support That Changed the Game: Joining the Ministry of Awesome
Launching a startup in the rapidly evolving world of Bitcoin and fintech is no small feat. That’s why Simon and his team applied to the Ministry of Awesome’s Founder Catalyst program, a renowned initiative designed to support New Zealand’s most promising startups.
“We’ve had several startups, and I can tell you, it’s much harder to go it alone,” Simon admits. “Without outside support and mentorship, you’re more likely to make costly mistakes. So the Founder Catalyst has been exceedingly valuable. It’s a great program and it’s been instrumental in helping us avoid the plethora of pitfalls that can kill startups.”
The program provides structured support, goal-setting, and access to mentors with deep industry experience. “Zach, our catalyst co-founder, has been invaluable,” says Simon. “He’s seen it all before and always has a solution to any challenge we face. Having someone who can hold us accountable to our goals has been a game-changer.”
But it’s not just about mentorship. Simon emphasises that access to industry experts and investors has been equally valuable. “We’ve managed to secure investment, but having access to a huge database of mentors has opened doors and allowed us to find resources and information that we couldn’t have found or accessed on our own. These connections are priceless when you’re a busy founder.” “For example, we’re undergoing a branding revison at the moment and we’ve been able to speak with branding, marketing and design experts that have helped us to improve, streamline and reduce the costs of the whole process."
Without outside support and mentorship, you’re more likely to make costly mistakes. So the Founder Catalyst has been exceedingly valuable.
Queenstown’s Circular Economy: Bitcoin-Powered Local Innovation
One of the most exciting initiatives for Lightning Pay is its upcoming project in Queenstown, a tourist hub in New Zealand that Lightning Pay believes is the perfect location for a Bitcoin-powered circular economy.
“Queenstown is a hotspot for high-net-worth individuals and international travellers, many of whom already hold Bitcoin,” Simon explains. “We’re creating a local ecosystem where we hope over 150 merchants, their suppliers, locals, and tourists can transact using Bitcoin through Lightning Pay.”
This initiative will be the first of its kind in New Zealand, but joins the ranks of similar projects like Bitcoin Beach in El Salvador and Bitcoin Jungle in Costa Rica. Other cities around the world that are also embracing Bitcoin using a range of supportive regulation and endorsement as payments infrastructure include: Vancouver, Miami, Lisbon, Prague, Tokyo and Berlin. The team is establishing a charitable trust to manage community engagement and education while Lightning Pay provides the payment infrastructure.
The benefits are clear: “For businesses, this means instant payments without the delays and high fees of traditional banking,” Simon says. “Merchants currently wait days or even more than a week to receive payments, but with Lightning Pay, they’ll get their money instantly and can pay their suppliers without losing value to fees or inflation.”
For travellers, it’s equally transformative. “They won’t need to worry about currency exchange or foreign transaction fees,” Simon adds. “Bitcoin is borderless and censorship-resistant, making it perfect for a global destination like Queenstown.”
Merchants currently wait days or even more than a week to receive payments, but with Lightning Pay, they’ll get their money instantly and can pay their suppliers without losing value to fees or inflation.
The Future Vision: Expanding Beyond Queenstown
Looking ahead, Simon is excited about the long-term potential for Lightning Pay. “If the Queenstown model proves successful, we’ll look to roll out similar initiatives in other regions,” he says. “Our ultimate goal is to show that Bitcoin isn’t just a speculative investment, it's usable money. We want to empower New Zealanders to save and transact in Bitcoin, creating a more resilient, inclusive, and prosperous financial system for everyone.”
By 2025, the team envision an even more refined user experience. “We’re launching an app that makes Bitcoin disappear under the hood. You’ll be able to hold and spend Bitcoin maybe without even realising it. Money should be seamless, and that’s what we’re building.”
Changing the Way New Zealanders Think About Money
With its innovative approach to saving, spending, and transacting with Bitcoin, Lightning Pay is working to redefine how New Zealanders interact with money. By addressing financial inefficiencies and offering a more resilient savings option, the company is not just providing a service—it's building a movement that could reshape the future of finance in New Zealand and beyond.