Dolla. Pay & get paid.
Celebrating the official launch of Dolla in NZ with "Dolla Day".
Dolla is a mobile payments app we’ve been developing since late last year. It allows anyone in NZ to connect an existing bank account in order to easily send & request money, split & pay bills & as of now, make payments in store.
If you’ve ever spent any time in the US, it’s very similar to Venmo. Up until very recently, products like this haven’t existed in NZ due to our local banks lack of innovation & the industry’s general hesitancy to open up & share both customer data (with the customers consent) & our domestic inter-bank payments network. Now via a combination of government regulations & market driven open banking infrastructure provided by Akahu, NZ is finally playing catch up to the rest of the world.
We’re super excited to launch our initial merchant payments solution via Dolla, specifically targeted at local cafes, food trucks & farmers markets. With Dolla, your customers can pay you via a fast, contactless & secure method & best of all, our merchant fees start from as little as 0.5%. If you’re in the hospo business, you’re probably paying anywhere from 2-3% with little to no support to boot 😢.
We’d love for you to think of Dolla as a partner in your business. As well as a low cost, secure payments platform, we offer fanatical support, we’re built & backed entirely by passionate Kiwis & we genuinely want to hear your feedback in order to help improve both your customers payment experience & how we might improve & automate your back office, book-keeping work so you can focus on building a great hospo business. After all, if you succeed, so do we!
To celebrate the release of “Pay via Dolla” for merchants, we’re launching our first ever Dolla Day on Friday 28th October.
On that day, your customers will only pay $1 for any coffee when they pay via Dolla. We’ll simply pay you the difference between the $1 and your normal retail price for any coffee or hot drink.
It’s really easy to get involved if you own or run a hospo business. Simply drop us a note (details at the bottom of this post) & we’ll work with you to get setup in a couple of minutes. All we ask is your help to spread the word. Additionally, any business participating in Dolla Day won’t pay any merchant services fees until December 1st.
But don’t wait. You can start accepting payments via Dolla right now at your business. We’re ready, willing & able to help!
How can your merchant fees be so much cheaper?
We cut out the middlemen! Traditionally, the retail payments network has been made up via a convoluted web of switches, acquirers, schemes & issuers all looking to extract fees. With Dolla, the customer is in effect paying from their exisiting bank account to yours. No one else needs to be involved 👊.
What do my customers need to do?
Very little. There’s no “wallet” required or seperate bank account to open up for either you or your customers. Simply download Dolla, connect any of your existing bank accounts (we support all banks, big & small) & you’re good to go.
When do my customers payments end up in my bank account?
If your customer banks with the same bank as your business account, it’s most likely instant! If not, it will only take between 30-60 minutes on business days. By the end of April next year, all payments between major banks will be settled 7 days a week, 365 days a year.
You’ll get the full amount too, after-all, it’s your revenue, not ours or anyone else’s. We’ll then work with you to understand the most appropriate time to invoice your business for our merchant services costs. No more last minute scrambling when a bank decides to debit their merchant fees from your account right before payroll 🙄.
Do I require any more hardware and/or expensive terminals?
No. From the outset, we’ve purposely designed Dolla to “work with what you’ve got”, both from a customer & a merchant context. Almost every person in the NZ walks around with the most advanced payments terminal ever created in their pocket. Dolla simply connects your customer with your ability to accept payments as a merchant via the same app on any iOS or Android smartphone through a secure QR code.
Additionally, this has the added benefit of being able to continue to accept payments even if the power goes off or your cantankerous EFTPOS terminal goes on the blink …
Can Dolla integrate with my existing POS system?
Yes. Early next year, our good friends at posBoss will be the first Point of Sale provider to launch their Dolla integration which will allow you to simply select “Dolla” as an alternate tender type to card or cash. If you’re not using posBoss, ask your provider when they plan on supporting Dolla.
Wow. That’s pretty cool. How do I start accepting Dolla at my business & participate in Dolla Day?
Drop us a quick note. We can have you up & running in 5 minutes 😊 - firstname.lastname@example.org
Founder & CEO
dolla.nz | email@example.com
P.S. We’d really appreciate it if you could share this post with your favourite cafe and/or local barista & next time you grab a coffee from anywhere, ask them if you can “pay via Dolla”.
P.P.S. Don’t forget to download Dolla for yourself. Visit get.dolla.nz from your mobile device or search your app store for “Dolla”.
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