Shoppers become investors by automatically buying fractional shares in a company when they make a purchase
Digital brokerage solution provider DriveWealth has joined forces with Australian global payments innovator Verrency. The partnership will enable DriveWealth to deliver its ground-breaking fractional share investment platform to a new segment of consumers.
As a result of the agreement between the two companies signed today at Money20/20 in Las Vegas, shoppers who have a debit or credit card will have the opportunity to seamlessly invest in companies from which they purchase goods and services. For example, if you buy shoes from the Nike store, you can elect to round up or put a percentage of the purchase price towards buying shares, or a fraction of a share, in the company.
Verrency Founder and CEO, David Link, said the partnership with DriveWealth is another example of how an innovative company can supercharge its business through Verrency's integration platform.
Regarding DriveWealth becoming a part of V+, Verrency’s growing fintech marketplace, Stephen Nash, Head of Business Development at DriveWealth said: “We’re delighted to partner with Verrency to enable consumers to instantly become shareholders in the public businesses they frequent. DriveWealth is excited to serve a new generation of investors innovatively seeking fractional equity investments in the brands they love.”
DriveWealth’s suite of APIs provides technology designed to modernize financial services for the digital age. The company’s cloud-based infrastructure offers powerful scaling and pricing efficiencies enabling its global partners – including online brokers, digital advisors and mobile online financial services companies – to seamlessly access the U.S. securities market.
In addition, DriveWealth’s technology stack enables its partners to deliver native investment experiences – including DriveWealth’s real time dollar-based investing capabilities – directly on their own mobile applications.
Founded in 2016, Verrency is a highly innovative global FinTech firm that focuses on enabling major financial institutions to rapidly and inexpensively deliver significant innovation via their existing payments technologies and networks.
DriveWealth Holdings, Inc., wholly owns DriveWealth, LLC, a member of FINRA and SIPC. DriveWealth, LLC is a licensed carrying and self-clearing broker offering digital brokerage solutions to broker-dealers, advisors and online partners worldwide through its proprietary investment platform. DriveWealth, LLC delivers access to the U.S. securities markets along with an array of digital products that power both emerging and established financial companies. For more information please visit DriveWealth.com.
Verrency provides world-leading enterprise-grade payments services for card issuers, merchant issuers, processors, and other digital financial services institutions. Verrency is a scheme-agnostic, white-label, "payments-innovation-as-a-service" open-API platform that helps card issuers acquire new customers and increase their share-of-wallet of existing customers while also significantly increasing security, control, and IoT connectibility. Verrency works behind-the-scenes - enabling everything from 2nd generation payments controls to aggregation to loyalty/ rewards spend to digital currency spend - quickly and easily with no change to existing payments rails, connections, or point-of-sale terminals. Verrency also enables rapid connection to 3rd party fintech services with little to no integration.
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