Dwolla, a U.S.-based account-to-account (A2A) payment solution provider, today announced its strategic collaboration with Visa (NYSE: V), an enabler of digital payments, in order to bring advanced account verification capabilities to Dwolla’s A2A solution.
This relationship enhances Dwolla’s ability to provide “a single, streamlined solution for mid- to enterprise-sized businesses to pay and get paid via their bank accounts.”
Using Visa’s new open banking solutions integrated “with Dwolla’s A2A payment technology, Dwolla clients can instantly verify account ownership and check balances in real time.”
“We’re thrilled to collaborate with Visa on providing innovative solutions in the open banking space. By combining financial data backed by the power of the Visa network and A2A payments into a single solution, we’re delivering a robust unified payment experience for finance and technology teams at enterprise-sized companies.”
Adding Visa’s reliable infrastructure to Dwolla’s Open Banking Services “creates a single solution for accessing Instant Account Verification (IAV), balance check, and available A2A payment methods more securely.”
Dwolla’s pre-integration with Visa “can reduce complexity and accelerate time-to-market for A2A payment solutions while ensuring a smoother implementation process for businesses – all through Dwolla’s single API.”
This convenient framework aligns “with the needs of enterprises seeking to modernize their payment solutions while keeping security top-of-mind.”
Haley Nusbaum, Head of U.S. Visa Open Banking Solutions said:
“We are excited to work with Dwolla to help their customers simplify financial operations. This integrated solution enables enterprises to gain access to advanced bank verification tools, enhancing the overall efficiency and security of their payment processes.”
Dwolla and Visa’s collaboration “comes on the heels of Dwolla’s announcement regarding its Open Banking Services.”
These innovative services aim to empower mid- to enterprise-sized businesses “with the functionality they need to enable fast and secure A2A transactions through Dwolla’s single API.”
