Blog Details

The Night Before Bank Innovation, Two Panelists Struck a Deal (Almost)

Bank Innovation Blog

Inspire Commerce Inc. had Spindle Inc. at hello. Well, almost.

After serving on a panel discussion together at Bank Innovation 2012 in March, execs at the companies formed a business partnership this week that makes Spindle’s RhinoPay, a payment service platform, available for white-label through Inspire Commerce for end merchants to rebrand to their customers.

InspirePay, Inspire Commerce’s flagship application, is a payments aggregator that lets merchants offer a variety of payment options online through a branded interface. With the new partnership, RhinoPay will serve as its credit card, check and ACH payment processor.

After a few pre-event conference calls, negotiations were on the table the night before their panel took place, Mark Fischer, Inspire Commerce’s co-founder and chief executive tells Bank Innovation.

“Spindle is going to allow us on a basic level to offer instant processing accounts to merchants inside and outside of our InspirePay platform under the .pay™ brand,” says Fischer. “Merchants will be able to directly accept credit card payments via the simple online setup process. RhinoPay is the underpinnings, the processing platform. As our relationship expands, we will grow together into multiple markets including online, mobile, and P2P payment processing.”

We’re fairly confident Inspire and Spindle will attend Bank Innovation in 2013, no?