Kiwi digital wallet provider Dosh has beaten out heavy hitting financial services providers to be announced the sole recipient of the Canstar Innovation Excellence Award 2022. The Canstar Award Programme seeks to highlight and recognise the most innovative products and services launched in the market within the past year.
Dosh co-founder Shane Marsh says, “This is big news for Dosh, but also for fintech in New Zealand. We see it as a watershed moment where fintech is now innovating at the same level as some of New Zealand’s largest financial services companies.”
The news is historic for fintech in New Zealand: not only is this the first time a local fintech has won the award, but it is the first time a bank has not. It is also the first time a single winner has taken out the category.
Canstar is Australasia’s premier financial research and ratings organisation whose purpose is to simplify the world of finance and help consumers confidently find the right product for them. Dosh’s payment solution innovation stood out to the Canstar panel of experts because before Dosh, digital wallets and instant payments had not been available to New Zealanders. As such, the judges recognised Dosh as a unique, market-leading innovation.
Canstar New Zealand General Manager Jose George said it was exciting to see such products being created out of New Zealand’s fintech sector. “Dosh is New Zealand’s first mobile wallet, and as such shows how vibrant and innovative our fintech sector has become. It is a simple and elegant app that provides a financial solution for consumers in many different circumstances. We’re very proud to announce this award today and celebrate Dosh’s achievements. Huge congratulations to the team!”
Launched in October 2021 by Kiwis Shane Marsh and James McEniery, the Dosh instant payments app enables everyday Kiwis to send and request money instantly via mobile number or QR code, 24/7.
Dosh raised $5M in a Seed Fundraising Round in March of this year, and more recently announced a partnership with global payments provider Visa. The Dosh Card will be live in the market in coming months and will mean customers can spend money from their Dosh account anywhere that accepts Visa, including online, then instantly split the bill via the app. Conversely, the Dosh Card will bring financial solutions to a group of society that has been left behind. For many reasons, a portion of New Zealanders do not have a bank account or access to banking services. Opening a Dosh account only requires a smartphone and government issued ID. Payments can be made into that account over the counter of a bank or deposited by other parties, including government departments such as the Ministry of Social Development. This is a first for New Zealand.
Executive Director Fintech NZ Jason Roberts says “This award is a proof point of fintech in New Zealand, making large in roads towards adding real value to kiwi customers. We are excited about the future impact companies like Dosh can make in Aotearoa New Zealand.”
