Increased demand for sophisticated and low-cost account-to-account payments solutions combined with advancements in new technologies bolsters A2A growth in Q1
Modern payments platform, Dwolla, today announced 45% growth of their Partner Ecosystem in Q1 of 2023. As part of this growth, data aggregator Flinks joined other partners in Dwolla’s Secure Exchange solution to offer a seamless account verification service to Dwolla’s clients. Since Q4 of 2022, the Dwolla Partner Ecosystem that connects referral and reseller partners to advanced account-to-account tools and services, has seen significant growth thanks to the rising demand for complementary, low-cost payment methods, provided by Dwolla’s account-to-account solutions.
“We’re thrilled to partner with Dwolla and bring our leading data connectivity to their payments platform, creating a powerful combination that’ll benefit businesses and consumers alike. Our partnership will unlock new opportunities for seamless and secure financial transactions, and we couldn’t be more excited about what’s ahead.” shares Flinks’ CEO, Yves-Gabriel Leboeuf.
“Surging demand for powerful payments solutions paired with recent advancements in faster payment technologies has created a thriving partner ecosystem that we are proud to power,” said Dwolla CEO Brady Harris. “We are thrilled to see our response to this demand result in meaningful connections between our partners and our clients expand as we continue to introduce powerful resources to accelerate the growth and innovation capabilities of our clients. As the U.S. leans into open banking solutions, we anticipate the opportunities within our Partner Ecosystem will continue to multiply.”
The Dwolla Partner Ecosystem includes longstanding participating companies like Plaid, MX, and Mastercard, while the additions of LinkMoney, Sharetec, Rutter, DigiShares, Flinks and others bring a diverse offering of services and industries to the mix of companies looking to broaden the network of opportunities within a Dwolla-powered modernized financial infrastructure. Other notable partners in the ecosystem include CurrencyCloud, NCMIC, Drivewealth, and Transfermate.
“We partnered with Dwolla to build our open-banking payments product because of the invested support they provide while enabling us to move money quickly, securely, and intelligently,” said Rohit Mehtani, VP of Product at Link Money. “Our customers expect seamless account-to-account payments, and Dwolla delivers. The Dwolla Partner Ecosystem is an added layer of support and connectivity that is driving major advancements by offering multiple payment rails under one umbrella.”
In 2022, the U.S. saw an increase in the adoption of bank transfers, while Nacha reported 30 billion payments processed valued at $76.7 trillion in the same time period. Overall, the industry has seen rapid advancements in faster account-to-account payment options across the board, including ACH, Same Day ACH, and Real-Time Payments, indicating that the potential for Dwolla’s Partner Ecosystem to expand will continue to rise.