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North America Paytech

Dwolla Introduces Open Banking Services for Streamlined A2A Payments

Dwolla, a US-based account-to-account payment provider, has extended its account-to-account (A2A) offering to include instant account verification, balance checks and fraud mitigation.

Its new ‘Open Banking Services’ empower mid- to enterprise-sized businesses with the functionality they need to offer fast and secure A2A payments through Dwolla’s single API.

Historically, businesses have faced hurdles when it comes to handling A2A payments, often juggling various vendors, APIs, and technical setups, says Dwolla. It aims to streamline this process, allowing enterprises to digitise their payment operations.

Its platform offers instant account verification, balance checks, fraud prevention, and A2A transfers, all through a unified integration.

“Our vision with Dwolla’s Open Banking Services is to empower businesses with a seamless, all-in-one solution for A2A payments,” said Dave Glaser, CEO at Dwolla.

“By consolidating essential A2A payment functionalities under one roof, we aim to simplify the payment landscape for businesses, enabling faster time-to-market and improved operational efficiency.”

Dwolla’s Open Banking Services

The single API provided by Dwolla offers enterprises the capability to integrate comprehensive payment functionalities directly into their applications by leveraging open banking services. These services include verifying customer and business records and securely exchanging account credentials.

It facilitates fast and secure A2A transactions through a consolidated vendor. Dwolla simplifies the integration process by managing contracts, technical integration, and ongoing maintenance efforts efficiently.

Dwolla’s scalable and customisable solution is tailored to meet the specific requirements of mid-to-enterprise clients. By pre-integrating with leading open banking service providers, Dwolla enhances the A2A payment experience, ensuring a smoother implementation process for businesses. This integration reduces complexity and expedites the time-to-market for A2A payment solutions.

 

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