Doola Launches US Banking Services for Global Businesses

Doola, a merchant bank, has launched a new banking product allowing international businesses to open a U.S. bank account remotely from anywhere, a press release said Thursday (May 12).

No US social security number will be required. Founders will be able to register an LLC, DAO LLC or C Corp through the service. They will get an IRS employer identification number, bank account, and US address.

After that, the release says doola helps with ongoing compliance with the state and the IRS.

It will also manage a corporate checking account, domestic and international wire transfers, virtual cards, a physical debit card to be mailed to the account holder, and tools to integrate with a company’s US entity.

Doola CEO Arjun Mahadevan said, “Founders all over the world don’t really want a company; they want a way to accept payments globally in US dollars or accept investments from US investors. Doola Banking makes our platform the fastest way to go from training to accepting your first payment/deposit in the world. Why? Because we do everything in-house. Just click the button, get the business plus EIN plus bank account, and ongoing compliance, including state and IRS reporting, is taken care of. As our customers like to say, we are a Business-in-a-Box.

In other global B2B news, OwlTing, a blockchain services company, has partnered with digital payments startup Nium to help power OwlPay, a new real-time cross-border payment service.

Read more: Blockchain company OwlTing and Nium launch X-Border B2B payments

The companies said the new service will cover automatic reconciliation, online currency exchange and cross-border payment services for Southeast Asia’s e-commerce and travel sectors.

“Using developer-friendly APIs, OwlPay connects to internal company management systems and provides a one-stop service for order and vendor administration, financial reconciliation, online auditing and management. ‘payment process automation,’ the statement said.



On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveyed 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

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