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PORTLAND, Ore., (October 6, 2021) - Sila Inc., a fintech software platform that provides payment infrastructure as a service, today 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.
“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.”
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 bill pay 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.
“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.”
Arcus is a Payments-as-a-service (“PaaS”) platform that enables any business to launch and offer innovative payment solutions across the Americas. Arcus’ mission is to make payments possible for everyone. Arcus strives to improve people’s financial health by helping its clients empower their users, giving them a better way to manage their payments.The world’s largest and most innovative companies choose Arcus to accept and process payments across the Americas including BBVA, Santander, Walmart, 7-Eleven, and Rappi. Arcus was launched in 2013 through Y-Combinator and is backed by Ignia, Citi Ventures,Softbank, Initialized Capital, Andreessen Horowitz, Kapor Capital, among others. For more information go to www.arcusfi.com.
Sila is a fintech software platform that provides payment infrastructure as a service, a business-critical element for all companies that need to integrate with the US banking system and blockchain quickly, securely, and in compliance with applicable US regulation. Sila offers Banking, Digital Wallet & ACH Payments APIs for Software Teams. The firm was recognized as a ‘2021 best place to work in financial technology’. Sila is headquartered inPortland, Oregon. For more information go to www.silamoney.com