Sila Inc., a fintech software platform that provides payment infrastructure as a service, announced a partnership with Arcus, a payment-as-a-service platform that enables any business to launch and offer innovative payment solutions across the Americas. By combining both companies’ particular strengths, bill payment to more than 18,000 US billers is now available to their customers. Arcus allows its customers to process bill pay through bill pay APIs to consumer and business accounts. Sila provides an API platform that allows clients to verify identities, link bank accounts, and originate ACH debit and credit transactions. Sila’s API platform also includes functionality for digital wallets. Customers can store value and transfer money from bank accounts to white-label digital wallets representing deposited funds.
“A closer integration between the solutions of the two companies will allow customers easier access to the respective services and faster implementations, saving them time and money.”
“Enabling bill pay to 18,000 billers in the U.S. is a huge win for our respective customer bases,” said Shamir Karkal, co-founder and CEO, Sila Inc. “It goes to show what’s possible when two like-minded companies work together to bring new solutions to market. It truly is a new financial world, and innovative companies like Arcus and Sila help build it.”
Read More: DeFi Enabled, Enterprise Grade Hybrid Blockchain, XDC Network, Gains Compliance Edge
Customers stand to benefit from this agreement in a number of different ways. One other example is the ACH Transfer API, which allows for ACH debits and billpay to be processed through an end user’s wallet, making automated bill pay faster. The partnership provides Arcus and Sila’s customers the ability to enable key features, allowing them to customize and only choose what makes the most sense for their business.
Read More: Financial Services are Experiencing Massive Adoption in the Philippines Through GCash
“While we have been working together closely for a while, making this formal announcement marks a new chapter in our relationship with Sila,” said Edrizio De La Cruz, co-founder and co-CEO, Arcus. “A closer integration between the solutions of the two companies will allow customers easier access to the respective services and faster implementations, saving them time and money.”
[To share your insights with us, please write to sghosh@martechseries.com ]
