San Francisco, October 3, 2018 — We are excited to announce a partnership with Dwolla, a leading U.S.-based payment services provider, to facilitate our payment network on the fiat/USD side of Odin™ andthe Thor Mobile Platform!
“Providing a fiat gateway for contractors on our platform is an important pillar to making sure they can use their hard-earned capital however they see fit,” said David Chin, CEO and co-founder of Thor. “We are really excited to make this partnership official.”
This partnership will serve as the fundamental backbone of Odin’s transactional elements. With this partnership, we can offer on-demand companies a single payment solution for managing their contractors that includes both a contractor management portal and wallet functions for contractors on our mobile platform. For contractors utilizing the Thor Mobile Platform, this partnership will allow us to offer users individual accounts whereby they can deposit and withdraw US Dollars.
We will continue to add functionality as it becomes available, including integrating a debit card solution by the end of 2018 that will allow users to access their money immediately upon receiving it in their Thor wallet instead of waiting for the ACH transfer to their bank to be completed.
In upcoming releases, Odin will automate all financial disclosures to the IRS regarding business payments to 1099 contractors, further streamlining the contractor management process so that companies can stay focused on their core mission.
This relationship will pertain exclusively to fiat currencies and will not handle cryptocurrency deposit or withdrawal functions of any kind.
Dwolla was founded on Dec. 1st, 2010, on the simple idea that moving money should be easy, fast and affordable. Dwolla was tired of high credit card fees and the antiquated processes of handling paper checks. Dwolla decided there had to be a better way — so they built it.
Dwolla now facilitates the movement of millions of dollars every day with low transaction costs, easy automation and near-perfect reliability. The goal is to make an incredibly complex process feel simple, easy and seamless to the people who use it — the customers’ end users. Learn more at https://www.dwolla.com.