SDK.finance

One Platform, for multiple purposes The Platform is designed to cater to the distinct needs of businesses across a wide range of cases. Banks & financial institutions: Core banking for digital-first banks Digital wallets Payment processing Merchant services P2P payment app Payout solutions Bulk & recurring payments (VRPs) Instant A2A payments & transfers PSD2-compliant Open Banking solutions Settlement and reconciliation Enterprises expanding into FinTech: Closed-loop wallets Closed-loop cards & gift cards Loyalty and rewards In-game currencies Virtual & digital currencies Embedded finance Marketplace payment engine Payroll management General ledger Corporate FinOps Treasury orchestration

SDK.finance is a fintech company that provides a white-label platform for businesses to develop and launch neobanking solutions rapidly. Their core offering is a pre-built backend infrastructure and transaction engine that handles payments processing. With a capacity of 2,700 transactions per second, their system can seamlessly scale from 1,000 to over 1 billion monthly transactions. This accelerates the time-to-market for fintech products by eliminating the need for lengthy backend development cycles.

White-Label FinTech Solutions: Neobank

E Money and Payment License In Lithuania

Digital Wallets

SDK.finance and Salt Edge hasten Open Banking solutions delivery

SDK.finance is a fintech company that provides a white-label platform for businesses to develop and launch neobanking solutions rapidly. Their core offering is a pre-built backend infrastructure and transaction engine that handles payments processing. With a capacity of 2,700 transactions per second, their system can seamlessly scale from 1,000 to over 1 billion monthly transactions. This accelerates the time-to-market for fintech products by eliminating the need for lengthy backend development cycles.
The platform operates on a subscription model, charging only for processed transactions monthly, with the source code license priced significantly lower than developing equivalent functionality in-house. This cost-effective approach minimizes risks associated with fintech development by providing a ready-made, compliant solution. SDK.finance's technology caters to various use cases, including electronic money issuance, payment initiation, account information services, and money transfers.

Dwolla is a leading provider of payment services specializing in account-to-account (A2A) payments. The company offers an innovative API solution called Dwolla Connect, designed for mid to enterprise-sized businesses. Dwolla Connect simplifies the process of replacing legacy, batch-based technology with modern infrastructure, enhancing the management and reconciliation of payments across multiple financial institutions. With Connect's bank-agnostic approach, businesses can leverage their existing commercial accounts at top US banks, including JPMorgan Chase & Co. and Wells Fargo, to effortlessly initiate payments by embedding Dwolla's API into their existing applications and payment flows.
Dwolla Connect serves a wide range of industries, such as financial services, lending, banking-as-a-service, marketplaces, and insurance, among others. Its API-first approach enables businesses to effortlessly integrate A2A payments into their apps or connect with existing ERP/cash management systems, offering a centralized location for payment information. Dwolla Connect provides substantial time and cost savings by allowing businesses to embed a single API, avoiding multiple bank integrations and simplifying their treasury management.
Over the years, Dwolla has expanded its offerings, introducing products like Dwolla Balance, a digital wallet solution, and exploring new payment methods and value-added services. The company has partnered with industry leaders like MX, a leader in open finance APIs, and Mastercard to enhance its payment capabilities and offer consumers more choice in managing their money.

Dwolla

Papaya is a SaaS fintech company that provides global payroll and payments technology through its comprehensive platform called Papaya Payroll OS. The platform automates payroll processes, ensures compliance, offers flexibility, and provides robust security features. Papaya's integrated approach connects data and processes from various HR and enterprise resource planning (ERP) tools, creating a single source of truth. This turns payroll, a company's biggest expense and liability, into a strategic asset that enables growth at scale.
One of Papaya's key offerings is a personal portal that empowers employees with convenient access to their payroll financial information. In March 2023, the company introduced a mobile app as part of this portal, allowing employees to securely view and manage their payslips, work-related documents, and bank account details on the go. This app caters to the growing trend of employees accessing payroll information via mobile devices, with 53% of employees doing so as of March 2023.
Papaya's technology has been recognized by leading global analysts for its disruptive approach in workforce management and payments. The company has received accolades such as being included in the Forbes Cloud 100 and CNBC's Top Startups for the Enterprise.

Papaya

Citcon is a leading global payment gateway and service provider, offering innovative solutions that enable businesses to accept payments from consumers using various mobile wallets, payment apps, and methods. The company's technology empowers merchants to expand their customer base and streamline the payment process, enhancing the overall shopping experience. Citcon's platform allows merchants to securely process millions of payment transactions daily from over 200 payment methods, including popular digital wallets like Alipay, WeChat Pay, PayPal, and Venmo.
Founded in 2015, Citcon pioneered as the first authorized US merchant acquirer for WeChat Pay and Alipay, two of the most widely used mobile wallet providers in China. Over the years, the company has expanded its partnerships to include more than 20 global wallet providers, reaching over 2 billion mobile wallet users worldwide. Citcon's technology integrates seamlessly with various point-of-sale (POS) and ecommerce systems, making it accessible to merchants across diverse industries.
Citcon's solutions cater to the needs of businesses of all sizes, from Fortune 1000 companies like L'Oréal, Hermes, and Nordstrom to major retailers such as Macy's, Caesars Entertainment, MGM Resorts, and Revolve. Its platform is deployed at over 30,000 merchant sites and locations globally.
In October 2021, Citcon closed a USD 30 million Series C funding round, backed by leading global investors such as Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. The company has expanded its presence with regional offices in the US, Canada, Europe, and Asia to serve its global clientele better.
Citcon has also diversified its offerings to include cryptocurrency payments. In May 2021, the company partnered with Flexa, a leading pure-digital payments network, enabling merchants worldwide to accept cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin as payment options.

Citcon

PayNearMe is a leading bill payment platform provider that enables unbanked consumers to make cash payments for various services. The company's technology generates a barcode that consumers can take to participating merchant locations within their vicinity. At the store, customers scan the barcode, provide cash to the cashier, and receive a receipt confirming the payment. This innovative solution solves the challenge of accepting cash payments in an increasingly digital world.
PayNearMe's platform supports multiple payment methods, including cash, credit/debit cards, and bank accounts. The company has built an extensive merchant network of over 40,000 retail locations across the US, including partnerships with major chains like Walgreens, CVS Pharmacy, Walmart, and Family Dollar Stores. By March 2022, PayNearMe had expanded its network by nearly 50% over the previous 12 months, with the addition of nearly 9,000 Walgreens and Duane Reade locations.
PayNearMe offers a seamless payment experience for customers while enabling businesses to increase foot traffic and potential incremental sales. The company focuses on partnering with convenience stores, dollar stores, grocers, and pharmacies, as these merchant categories align well with their business model.

PayNearMe

Paydiant was a company that provided a cloud-based white-label mobile wallet platform enabling merchants and banks to deploy their own secure mobile wallet solutions under their brand names. Its patented technology allowed merchants to integrate mobile wallet functionality, including mobile payments, loyalty programs, offers, and e-receipts within their existing mobile apps.
The platform assisted merchants in acquiring new customers and increasing sales by delivering targeted offers and personalized loyalty programs directly to consumer mobile devices. Payment credentials were never stored on users' phones but instead securely held in a PCI-compliant data center, enhancing transaction security.
Paydiant's flexible platform supported various payment instruments like debit, credit, gift, and private-label cards while providing valuable insights into customer spending behavior. It facilitated seamless integration with existing point-of-sale systems across popular smartphone models, eliminating hardware upgrade requirements. The company's technology was compatible with emerging standards like Bluetooth Low Energy (BLE).
In March 2015, Paydiant was acquired by PayPal to bolster the latter's in-store mobile payment capabilities and enable merchant partners to build branded mobile wallets integrated with PayPal's services.

Paydiant

These enable users to utilize their wallets for various transactions at virtually any merchant that accepts digital wallet payments without any restrictions on usage.

These enable users to carry out transactions at a selected list of merchants and locations. Merchants may need to set up predefined agreements with digital wallet issuers to accept payments from the wallet.

These are typically developed by merchants themselves and allow customers to use their wallets to make payments at the merchants’ own stores. Users are unable to use these wallets for transactions outside the issuing merchant.

Companies that offer white-label solutions for businesses and fintechs to set up their own digital wallet offering.

Leverages AI/ML to conduct various AML/KYC checks on customers and transactions processed through digital wallets

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 Marqeta, a card issuing infrastructure provider, has partnered with SDK Finance, a digital wallet and neo-banking infrastructure provider, to expand its customer base. They plan to accomplish this by extending the reach of Marqeta's payment APIs.
 
 
 The collaboration will enable Marqeta to offer its cloud-based payment APIs to SDK Finance customers. This will allow these customers to issue and manage instant virtual or physical cards, access digital wallet functions, implement spend control, and utilize other related services.
 
</div> Analyst QuickTake: Marqeta has entered several partnerships during the year to expand its presence. Last month, the company <a href="https://sp-edge.com/updates/24333"> partnered with Credi2 </a> to offer installment payments with European banks after partnering with several foreign companies&nbsp; <a href="https://sp-edge.com/updates/22806"> Scalapay </a> (October) and <a href="https://sp-edge.com/updates/20016"> Fitbank </a> (July) to expand its reach in Europe and Brazil, respectively.&nbsp;

SDK.finance

Sources

EDGE Insights

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless