Cryptanite Partners with Dwolla to Process Online Payments

Cryptanite Blockchain Technologies (CSE:NITE) has announced a partnership with Dwolla, an e-commerce service system using ACH payment systems.

As quoted in the press release:

The agreement takes effect immediately, enabling the company’s ChargaCard payment app, which is in private beta test mode through May 1, to utilize Dwolla’s powerful functionality.

“Lower fees, improved transaction speed and increased convenience are the three biggest benefits that ChargaCard’s customers will see right away,” said Maria Eagleton, co-founder of ChargaCard. “Our collaboration with Dwolla can help save merchants time and money, and it is in line with our mission to bypass the predatory and destructive tactics used by the debt collection industry.”

ChargaCard’s innovative online platform facilitates the creation of direct credit arrangements between merchants and customers and bypasses expensive third-party financial institutions and debt collection agencies. ChargaCard can also help merchants recover past-due invoices and provide customers with flexible payment plans with zero percent interest rates.

The combination of ChargaCard’s and Dwolla’s capacities means that merchants using the ChargaCard app will soon have the ability to pay a one percent payment processing fee, instead of the three percent plus fee typically associated with such transactions. For small businesses, these percentage points can add up to tens of thousands of dollars in savings. And Dwolla’s built-in security measures provide additional security layers to protect user accounts.

“The partners leveraging our platform, like Chargacard, are at the heart of what we do,” said a Dwolla representative. “We are always excited to see new applications implementing Dwolla to build the payments functionality they need, leveraging the U.S. banking system to send and receive funds.”

Click here to read the full press release.