At last, New Zealand has its first digital wallet. Created by friends Shane Marsh and James McEniery, Dosh allows Kiwis to pay each other instantly using a smartphone app.
Having used overseas payment apps like Venmo or Paylah while travelling, the duo realised that no such apps existed in New Zealand. With James having a background in retail marketing and Shane a previous digital payments expert for a large Australian-owned bank, it was only natural to join forces and launch Dosh.
Available on Apple and Android, the handy digital wallet is easy, safe, and free to download for anyone over the age of 13 with a New Zealand Passport or Drivers Licence.
Marsh says Dosh is the breakthrough in banking that consumers and small business owners have been asking for.
“Merchant fees are a major source of frustration for business owners. Dosh slashes the cost of digital payments and provides secure, instant results for hardworking Kiwi entrepreneurs.”
Dosh allows users to instantly pay or be paid for transactions under $500. Users can upload up to $1000 onto their dosh wallet, pay and receive cash instantly, and transfer it back to their bank account whenever they like. A 1% fee is charged when money is returned to the user’s bank account.
Dosh works with all the major banks including BNZ, ASB, Westpac, ANZ, and Kiwibank, and is a registered Financial Services provider, overseen by the Department of Internal Affairs.
“Dosh removes a whole world of pain from banking,” says McEniery.
“Payments are instant – so no more waiting a day or two to see if your funds have cleared. It’s easy – no more fussing with long strings of numbers or mobile numbers. And it’s safe – you see the money in your account instantly and can transfer it back to your bank account whenever you like.”
Early testing of Dosh has shown that young people, especially, love using Dosh.
“They already do most of their shopping and chat through phones and expect an instant response. Banking has not kept up. Dosh is the way young people pay,” says McEniery.
Dosh also appeals to small business owners, especially those on the go such as food delivery, tradespeople, and stallholders.
You can download Dosh on Google Play or from the App store. Visit www.dosh.nz for more information.