Dosh partners with Visa & Pismo to build NZ digital banking
Dosh has announced a collaboration with Visa and Pismo aimed at developing its digital banking platform in New Zealand.
The Auckland-based digital wallet provider, established in 2021, is progressing towards becoming a registered bank and says its partnership with Visa and Pismo will support this next phase of its business. The collaboration is set to allow Dosh to deliver digital banking services with greater speed, security, and scalability to customers throughout New Zealand.
Partnership details
Dosh will use Pismo's cloud-native core banking and payments platform, which Visa acquired in 2024, to underpin its expanding financial offerings. Currently, the digital wallet serves more than 40,000 accounts, all of which are expected to be migrated to the Pismo platform by May 2026. According to the company, the migration will be seamless with no service disruption for existing users.
"Working with Visa and Pismo allows us to move faster and scale with confidence," said Shane Marsh, CEO of Dosh. "As we step into this exciting next chapter, our focus is on offering New Zealanders a modern banking experience that's smart, simple, and puts value back in their pockets. This collaboration is a key step in that journey."
Pismo's platform will allow Dosh to consolidate spend, save, and borrow features within a single banking application, giving it the infrastructure required to broaden its digital services and scale its user base over the coming years.
Strategic goals
Dosh's stated ambition is to become New Zealand's first fully digital, locally owned registered bank, with an application currently underway at the Reserve Bank of New Zealand. By leveraging this new partnership, Dosh aims to offer solutions that it says are aligned to the needs and preferences of modern New Zealanders.
Anthony Watson, Visa Country Manager for New Zealand and the Pacific Islands, said:
"We want Kiwi fintechs to thrive, so we're proud to support Dosh in their mission to bring more innovation and choice to New Zealanders. Their vision aligns closely with Visa's ongoing commitment to digital innovation and financial inclusion."
This partnership marks the first client engagement for Pismo in New Zealand. Vishal Dalal, CEO at Pismo, commented:
"Dosh is known for delivering a simple and intuitive customer experience. We're excited to help enable that with a modern, scalable platform powering it behind the scenes. We're also proud to welcome Dosh as our first client in New Zealand."
Local focus with global technology
Dosh highlighted the importance of a local customer focus while leveraging the expertise and technologies of international partners. The collaboration intends to merge global payments infrastructure with local requirements.
Marsh said:
"Collaborating directly with Visa, a global leader in payments innovation, reinforces our ambition to bring world-class digital banking technology to Kiwis. Together, with Pismo, we're building the foundation for the future of banking in New Zealand."
Dosh is positioning its model to streamline costs, adopt new technologies including artificial intelligence, and offer a service described as tailored for New Zealand customers as it seeks regulatory approval to operate as a digital-only bank.
