BankSimple.com has entered into a partnership with TxVia Inc. for processing debit card, online bill payment, and automated clearinghouse transactions, the New York-based companies announced March 22.
The partnership will “give us a lot of real-time processing and a full set of” application programming interfaces, says Josh Reich, BankSimple.com’s chief executive.
Unlike other transaction-processing platforms, which provide pre-built modules without much flexibility, “our technology stack will be integrated into theirs, and they will publish real-time data to us and allow us to build a new experience on top of their platform,” Reich says.
Jonathan Weiner, executive vice president of TxVia, says his company has a delivery model that differs from more-traditional processors. “We … bring platform as a service delivery to the marketplace,” he says.
Created by Simple Finance Technology Corp., BankSimple.com is a nascent virtual bank linked to a personal financial management service.
Although BankSimple.com has not yet launched, it has pre-signed about 40,000 customers, Reich says. BankSimple.com has been in search of several behind-the-scenes bank partners for such services as core processing and debit card issuing.
BankSimple.com recently secured a debit card issuer, Reich says, declining to name the bank.
