Carbon announces partnership with Dwolla to unlock global payment
Marketplace payouts are a painful process that requires the need to store banking information, generate a 1099 in the U.S., support local payout methods, e-wallets etc.
Thanks to Dwolla and Carbon Payment, this process is easier than ever for marketplaces. With only a few lines of code, your marketplace can now pay people for goods and services in over 120 countries and 21 currencies.
"We believe that working with Dwolla will help us provide best in class financial services to marketplaces operating domestically and globally,” said Elie Toubiana, CEO of Carbon Payment. “Together, we are answering B2B payment needs on a global level. Carbon Payment was created by a former Uber engineer to help other marketplaces with their payout needs. By utilizing this knowledge, Carbon Payment provides seamless onboarding while also ensuring the payor isn’t required to store bank data.”
For payments within the United States, Carbon Payment has integrated Dwolla’s programmable payments infrastructure. Dwolla is a connection to the Automated Clearing House (ACH) Network to enable bank-to-bank transfers within an application. Your customers can attach a bank account and initiate a transaction to send or receive money. Dwolla’s technology allows for instant payouts to a debit card, giving merchants the opportunity to get paid quicker while still avoiding the hassles that come with using checks or the fees associated with credit cards.
“Strategic partnerships within the fintech ecosystem provide consumers with more options for sending payments online, and we couldn’t be more excited to be working with Carbon Payment,” says Brady Harris, CEO of Dwolla. “Credit card fees can add up quickly and checks are incredibly time consuming. Our ACH product streamlines the payment process for both sides of the transaction and does it at a cost that can meaningfully impact a business right away.”
The partnership between Carbon Payment and Dwolla helps solidify international business measures. Fluctuating exchange rates, hidden fees, payment identification, payment traction, legal risks and protection are all key areas of concern for those doing business with vendors across borders. No longer will either vendors or contracting companies have to worry about payment and service challenges thanks to the technology and transparent innovation provided by this partnership.
The global vendor market is large. From international sports virtual tourism to freelance workforces and even importing/export changes from clothing and food to pharmaceuticals, paying people and companies should be fast and secure, not complicated. Security is an issue to address, too. Both the payor and the vendor need to make their personal financial information isn’t at risk for breach on the dark web.
The partnership between Carbon Payment and Dwolla helps to elevate the ability of B2B and B2C efforts.