A Dwolla And Infinicept Link Aims to Make Embedded Payment More Accessible to ISVs

Payment-platform provider Dwolla and Infinicept, a Denver-based firm that specializes in embedded payments, are teaming up on new technology for independent software vendors. 

The partnership is aimed at making it more economical for business-software providers to include payment processing in their application and reduce their time to market by months. At the same time, Dwolla’s balance functionality and ledgering service will add functionality for Infinicept’s clients.

“The improvement in speed to market gets payments going way quicker [for independent software providers], so their revenue stream starts sooner and ramps faster,” Todd Ablowitz, co-chief executive and co-founder of Infinicept, says by email.

In addition, the parties say the partnership will make account-based payments more seamless and easier to integrate into existing business applications. This will result from bringing account-to-account payment capabilities to Infinicept and giving Dwolla a payment-operations provider it can add to it its roster of partners, thereby increasing the payment options for businesses and their customers, both companies say.

“Dwolla’s capabilities in sophisticated account-to-account payments provide a canvas for our joint customers to do so much,” Ablowitz says. “Immediate opportunities revolve around modernizing the settlement from payments companies to their merchants, but there are myriad consumer-to-business and business-to-business flows available. Really the sky is the limit.”

Account-to-account payments constitute an emerging trend in the payments industry as open banking is making it more feasible for financial institutions to enable consumers to pay for purchases directly from their checking or savings accounts. 

“We’re starting to see a shift to payment being made direct from an account, which in time we think will be a game-changer in the payments industry,” says Dwolla president and chief operating officer David Glaser, who adds the partnership with Infinicept positions Dwolla to capitalize on that trend.