Z chief executive Mike Bennetts today said Z was "completely committed" to the future of Fly Buys, in which the company has a financial interest.
The fuel retailer has a 25 per cent stake in Loyalty New Zealand, which offers Fly Buys.
Media reports had earlier suggested Z was considering pulling out of Fly Buys, which is New Zealand's biggest loyalty programme.
"In the context of a conversation around changing loyalty programmes in New Zealand it has been completely misreported that Z is considering pulling out of Fly Buys," he said in a statement.
"Fly Buys is a very important part of Z's loyalty offer and I want to categorically state that Z is completely committed to Fly Buys," he said.