Financial technology company Dwolla has collaborated with B2B payments company TransferMate to facilitate international payments for its customers and their end users.
TransferMate provides a framework for sending and receiving cross-border payments, while Dwolla links businesses to the Automated Clearing House Network (ACH) Network for payments in the US.
Under the latest partnership, Dwolla clients will gain access to TransferMate’s payments network across 162 countries and 134 currencies.
Merchants can use TransferMate to enable their end users to initiate a single payment, request payment or send several payments with a single upload.
After TransferMate receives the funds domestically, the company makes the payment in the local currency of the recipient using its local account in the country.
With the service, customers receive their funds on the same or next day.
Dwolla vice-president of Marketing Stephanie Atkin said: “We understand how needs evolve during a growth period for a company, which is why working with first-class partners is so important.
“That way you give yourself a chance to be successful. TransferMate is a first-class partner that we’re proud to refer to our customers.”
TransferMate international commercial director Tom Butler said: “We are thrilled to be a part of the Dwolla Partner Ecosystem, helping businesses to expand their operations into overseas markets.
“TransferMate is all about making it faster and easier for businesses to trade internationally, and we’re excited to offer our leading payments technology to Dwolla clients.”
As part of the alliance, customers will be able to make domestic as well as international bank transfers.