Overview of the project

At Dwolla, we believe in the continual advancement of payments and financial technology. Alongside other fintech players, we’ve been working hand-in-hand with the Bill & Melinda Gates Foundation to further its vision of financial inclusion.

With the development of Mojaloop, a new open-source software for creating interoperable payments platforms, the Gates Foundation aims to help level the economic playing field for the world’s poorest people. The tool can be used to build interoperable payment platforms that connect banks, providers, and customers across a country’s economy.

Mojaloop Attributes

The new open-source project's principle components, or "the central services" were designed and built by Dwolla's Team working on the project. This infrastructure provides a foundation for interoperability between individuals, financial providers, and other payment solutions. Dwolla designed the directory to enable just that, while also allowing end-users to connect to third-party services.

Aligned with our values

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At Dwolla, we were excited to contribute to a once-in-a-lifetime project, furthering payments for everyone. The same payments and technology experts that have helped build new open-source software supported by the Gates Foundation have also built and developed Dwolla’s API.

Read the blog post View other industry initiatives

Financial institutions play an important role in our network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in our network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.