Dwolla Partners with Currencycloud to Enable International Payments

These days entrepreneurs are no longer limited to their own geographic regions. Instead the Internet makes it possible to sell to customers around the world. At the same time these transactions can be complicated due to differing currencies and payment platforms. That’s why two FinTechs — Dwolla and Currencycloud — have announced a new partnership that will hopefully help change that.

The cooperation between Dwolla and Currencycloud will make it easier for businesses to send and receive international payments. While Dwolla’s ACH payment API assists with U.S. payments, together the two companies will support payments in 180 countries and 35 different currencies. In fact, since launching in 2012, Currencycloud has already processed more than $50 billion in dozens of countries across the globe.

Currencycloud joins a few other members of what Dwolla has dubbed their Partner Ecosystem. Other participants include Plaid, Sift, TransferMate, and We Write Code. Although the Partner Ecosystem was only formally announced last week, Dwolla notes that it has previously been working with companies such as Plaid and Sift for years. The company is also seeking additional members to join their Partner Ecosystem according to their site.

In a press release announcing the partnership, Dwolla’s VP of marketing Stephanie Atkin said, “We live in a world that is ever more connected. We want our phones to control our thermostats and our televisions, we want our messaging apps to sync up with our calendar apps. The Dwolla Partner Ecosystem was born out of that idea of interconnectivity.” Atkins added, “Dwolla is the leader in domestic payments, Currencycloud brings that same level of trust for international payments. This partnership allows our customers to get the best of both worlds. We couldn’t be more excited about this opportunity and its potential.” Meanwhile Currencycloud’s co-founder Richard Arundel also shared his enthusiasm, stating, “We’re thrilled to join the Dwolla Partner Ecosystem, a group of FinTechs with shared passion for removing payments pain points with flexible API technology. We pride ourselves on helping to simplify international payments for businesses so that they can focus on delivering great customer experience, and with this new partnership our clients can now leverage Dwolla’s domestic payments API.”

Just as its encouraging to see startups working with big banks, it’s exciting when two FinTechs decide to team up.  In this case the partnership between Dwolla and Currencycloud makes perfect sense — as does the entire Dwolla Partner Ecosystem. Through efforts like these and many others, soon enough digital payments (and currencies) can finally reach their full potential.

Also published on Medium.


Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Robinhood Reveals More Details on Upcoming Retirement Account

After officially announcing plans for retirement accounts during an earnings call last month, Robinhood has now revealed more details about the upcoming feature and opened a waitlist for customers. First, Robinhood Retirement will offer both Roth and Traditional IRAs to users. With these accounts, customers will be able to invest in stocks and ETFs. Additionally, accountholders will be able to craft a custom portfolio and will be able to view...

Discover Announces 5% Bonus Categories for First Quarter of 2023

The popular Discover It card — which features 1% on all purchases as well as a slate of bonus rotating categories each quarter — has revealed what purchases will earn cardholders that 5% bonus starting January 1st. For the first quarter of 2023, Discover It cardholders can earn 5% back on grocery store, drug store, and select streaming service purchases. However, there are a few asterisks to note with this offer....

AllWork Raises $4.9 Million From FINTOP Capital 

A FinTech focused on freelancer payroll has closed a significant early-round investment. This week, AllWork announced that it had raised a $4.8 million round. The Series A was led by Nashville-based FINTOP Capital with no other participants. As a result of the transaction, FINTOP's Chris Haley and Rick Holton will join AllWork's board of directors. Previously, AllWork closed a $3.8 million seed round in 2019, bringing their to-date funding total to $8.7...