David Silverton, CEO Pinwheel has been at the forefront of fintech for the last decade and will now be called Bankful. Bankful is dedicated to servicing underbanked businesses who have traditionally been excluded from the payment card network. The rebranding highlights a shift from servicing SMBs to supporting more financial institutions and channel partners that can benefit from the Bankful platform.
During its early days, Bankful realized that a technology platform was needed to simplify the card payment ecosystem. Merchants with limited experience or resources needed to compete in an increasingly complicated payment network. The emergence of regulated industries, with varying jurisdictional and legal requirements, set the bar even higher. Bankful provides merchants with a single platform that streamlines the process for regulated industries (i.e. the underbanked). Merchants can stay focused on their core business by leveraging the Bankful platform, which now includes Web3 products.
Bankful plans to solve an inefficiency that has kept customers who want to spend cryptocurrency from the businesses that want to accept it. Bankful will unlock a new way of doing business that unites the ease and guarantees of traditional banking services with the speed and security of crypto.
“We recently developed custom onboarding technology and integration support for several financial institutions and look forward to expanding that segment of our business,” says David Silverton, CEO of Bankful.
Our platform simplifies payments for both the underbanked and financial institutions that want to reach into developing markets
“Bankful has been working closely with a number of leading shopping cart platforms, such as Shopify, BigCommerce, and Wix. Through the integration with Wix, business owners using the Wix platform can benefit from Bankful’s offerings, with the ability to process transactions with higher risk, crypto, and use Authorize.net payment services.”
“It’s a major milestone for the company and a unique opportunity for the Bankful brand to become synonymous with enabling merchants to thrive in the digital economy,” says Silverton. “This new brand and evolving positioning perfectly illustrate Bankful’s enthusiasm for Web3 and the future of payments.”
