Dwolla Partners with mFoundry to Offer P2P Payments to Banks
Oct. 11, 2012
Dwolla , the Des Moines, Iowa-based digital cash network, revealed yesterday it has aligned itself with mobile banking and payments provider mFoundry. The partnership enables mFoundry to offer the more than 800 financial institutions using its Fin.X cloud-banking platform access to Dwolla’s real-time P2P mobile payments.
“Dwolla cuts through the security and compliance issues of existing peer-to-peer solutions and can be rapidly offered to consumers whose financial institution has deployed Fin.X,” said mFoundry CEO Drew Sievers. “Dwolla represents another significant new revenue opportunity for institutions, and it can satisfy the growing demand for an affordable money transfer solution. Our partnership with Dwolla is another way mFoundry is helping financial institutions turn mobile into their most profitable channel.”
mFoundry powers Starbucks Card Mobile, one of the most successful mobile payments deployments made to date.