NMI, a global leader in embedded payments infrastructure, today announced it has acquired Dwolla, one of the best-known account-to-account (A2A) payment infrastructure providers, recognized for its API-first approach to money movement. The acquisition brings together NMI's strengths in payment acceptance, channel distribution, onboarding and merchant lifecycle management with Dwolla's API-first capabilities in A2A infrastructure, real-time payments, open banking and many-to-many funds flow.
Combined business processes close to $700 billion in annual transaction volume.
Dwolla serves more than 400 customers, including SMBs and Fortune 500 companies.
Juniper Research projects global A2A transaction value will reach 195trillionby2030,upfrom91.5 trillion in 2025.
Approximately 60 Dwolla employees will join NMI; Dave Glaser, CEO of Dwolla, becomes NMI COO.
More than 6,000 technology partners trust NMI for payment acceptance.
Dwolla marks NMI's sixth acquisition in recent years.
Steve Pinado, CEO of NMI, said: "This acquisition is a continuation of our strategy to build the most robust, white-label, embedded payments platform for our channel and enterprise partners. Dwolla gives us modern, API-first A2A infrastructure that strengthens our ability to help businesses accept, manage and move money across more use cases and more rails. It also gives NMI a stronger foundation to participate in the next generation of money movement, including agentic payments, stablecoin-enabled settlement, remittances and other emerging payment models."
Dave Glaser, CEO at Dwolla, said: "Companies embedding payments into their products are under pressure to support more rails, faster payouts and greater visibility. Dwolla was built to help businesses operate bank payments at scale through an API-first infrastructure layer that unifies ACH and real-time rails while standardizing status, exception handling and reporting. By joining NMI, we can bring those capabilities to a broader ecosystem of partners, while giving Dwolla customers access to NMI's omnichannel payment acceptance capabilities, through a single, flexible, white-label platform."
NMI partners, including ISOs, ISVs, PayFacs and financial institutions, can build on NMI's existing payment acceptance, onboarding and merchant lifecycle management capabilities by adding bank payments, real-time payments, payouts and more sophisticated funds flow models. These expanded capabilities support marketplace seller payouts, loan disbursements and repayments, payroll, B2B payments and supplier payments, while helping partners serve industries such as property management, healthcare, insurance and lending.
NMI will continue to support Dwolla's existing customers and partners as it integrates Dwolla's capabilities into the NMI platform. Dave Glaser will join NMI's executive leadership team as Chief Operating Officer, supporting continuity for Dwolla customers, partners and employees while helping lead the integration.
NMI is powering the next generation of embedded payments with its modular payment acceptance platform and industry-leading gateway. Processing over $600 billion annually, NMI enables SaaS platforms, ISOs, PayFacs and banks to transform payments into a strategic advantage, driving growth, loyalty and new revenue streams. More than 6,000 technology partners trust NMI to deliver seamless, scalable payment experiences across online, in-app, in-store, mobile and unattended environments.
Dwolla is a trusted leader in payment services with 16+ years of industry expertise, powering innovation with sophisticated account-to-account payment solutions. Dwolla's easy-to-implement API simplifies the complexity of integrating with ACH and real-time payment networks to deliver a single end-to-end solution. Hundreds of SMBs and Fortune 500 companies rely on Dwolla's technology.
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