Dwolla and MX Expand Partnership with Token Offering
The new tokenized solution enables secure, simplified sharing of user data for easier money movement
Des Moines, IOWA — September 14, 2022 — Modern payments platform, Dwolla, recently announced the addition of MX to its Secure Exchange solution partners. This collaboration on a tokenized offering provides Dwolla’s clients and reseller partners a more convenient and flexible way for them to access account verification services using MXapi Processor Tokens. MXapi Processor Tokens facilitate secure exchanges with mutual partners without the risk of using sensitive data or the need for third parties in money movement.
“The expansion of our network with the MXapi Processor Tokens showcases our continued commitment to provide cutting edge open banking solutions for our customers by simplifying and further securing transactions,” said Dwolla SVP of Product Yasser Abou-Nasr. “Dwolla continues to pave the way for secure, seamless and faster account-to-account transactions.”
Shared clients and partners between MX and Dwolla now have access to MXapi Processor Tokens, which remove the need for these clients to store sensitive user data, making it easier for mutual partners to easily access money movement datasets and also access account verification services. MXapi Processor Tokens leverage the Secure Exchange solution technology that places emphasis on the highest level of data protection coupled with the ease of exchanging tokens with various partners.
"Secure tokens make it easy and safe for our partners and clients to verify consumer financial data while avoiding the risks of handling and storing sensitive information," said Corinne Bartow, Vice President of Fintech Partnerships at MX. "We are excited to expand the use of the MXapi Processor Tokens with partners like Dwolla, improving data accessibility between MX clients and their mutual payment processor partners."
Dwolla’s expanded partnership with MXcomes quickly on the heels of the introduction of the Secure Exchange solution. These recent initiatives further Dwolla’s investment in open banking innovations alongside their announcement of their support of the Same Day ACH transaction limit increase and their Virtual Account Numbers (VANs) feature.
Dwolla, Inc. is a fintech company powering innovations with sophisticated account-to-account payment solutions. Dwolla’s robust platform, low-code API and partnership ecosystem simplify the complex process of integrating with the various payment networks to create a single end-to-end solution. Integrating Dwolla’s modern payment technology gives a business the ability to program payments in real-time, on the same day or to a debit card 24/7. With minimal development, start-ups to Fortune 500 companies can gain efficiency, flexibility and improved cash flow by working with Dwolla.
MX Technologies, Inc., a leader in Open Finance, makes data accessible and actionable for everyone. MX is building the largest open finance ecosystem to help drive innovation and improve experiences through secure and reliable access to financial data. MX combines trusted open finance APIs with enhanced financial data to quickly and securely connect to and verify data for hundreds of use cases including account opening, money movement, and underwriting. To learn more, follow us on Twitter @MXor visit www.mx.com.