When searching for an API for payments, you’ll be vetting various solutions that offer a plethora of solutions. However, which ones do you actually need when building payments into your platform or application?
Dwolla offers a powerful payments integration that makes ACH easier. When becoming a Dwolla customer, you’ll be able to leverage:
- A robust RESTful API
- Events and webhook subscriptions
- White labeled by design
- Hold a balance
- Pre-authorized transactions
- Expedited transfers
- Wire transfers
- Custom limits
- Mass payments
- Bank account verification
- Integration and account support
The next thing you may start researching is cost. Dwolla takes a unique approach to pricing. Instead of nickel and diming you on per-transaction costs, which can get costly as you scale your business, we take a consultative approach to providing you with an API for payments. We work with you to determine what your ideal payments integration needs to scale with your business, and then establish a monthly pricing plan for the next 12 to 24 months. Prices can be as low as $1,500 but can range up to $10,000 or more per month. Whatever the price, we make sure that it’s a good deal for you and your business, and that you receive top-notch support throughout the terms of your integration.
Customers enjoy the predictable month over month SaaS-based pricing, something that can be invaluable to mid- to large-sized businesses in a world where pricing business services can be unpredictable and fluid.
We continually enhance our ACH API to offer the latest in technology and security improvements that the industry has to offer. We don’t approach security and compliance as simply a box to check when building our platform, we’ve spent the last 6 years building with security and compliance in the front of our minds, and is something that is continuously enhanced and delivered to as users of your product.
Customers are provided with a private Slack channel with our developer support team so that they can quickly work through any technical obstacles that they may encounter in a timely and efficient manner. A dedicated account manager is assigned to the customer so that any questions that may come up in regards to their payments integration are filtered to the right Dwolla team members and can be answered as quickly as possible.
Dwolla offers bank account verification services that can be customized to take on the look and feel of the customer’s platform or application. Whether it’s instant account verification or micro-deposits, we offer solutions for customers to securely authenticate and link financial accounts to their customers.
Initiating transfers to, from, or between customers is as simple as calling an API endpoint. Leverage event and webhook subscriptions to automate your own custom notifications to your users in regards to payment and account statuses.
Dwolla also makes it simple to collect a Facilitator Fee on transfers, so that customers can create new revenue generation opportunities by implementing a flat or percentage-based transaction fee on the transfers they facilitate via their platform.
Dwolla’s API is technology agnostic—meaning that we work well along with other solutions or integrations that you’d like to implement. Some customers integrate credit card integrations on the front end of their marketplace, then use Dwolla’s ACH integration on the back end to disburse payouts to vendors or consultants.
Another unique capability of Dwolla is the ability for customers or users to hold balances in the Dwolla network, which is a wallet-like capability. An example of how this functionality could work:
Your company, Sports XYZ, is a niche retail platform that connects buyers and sellers of high-dollar sports apparel. When a buyer purchases merchandise from a seller, you collect the buyer payment while simultaneously requesting that the seller ship the goods to you. When you approve the merchandise as original and in good condition, you can “release” the payment to the seller by transferring funds via Dwolla to the seller’s Sports XYZ wallet connected to their Sports XYZ account. This makes it easy for that seller to then turn around and invest those funds back into your platform by becoming a buyer—purchasing merchandise from other sellers in your network. If the seller decides that they would like to withdraw their profits from their Sports XYZ wallet instead of making purchases via your platform, they can manually withdraw the funds from their Sports XYZ account to their linked financial account.
Dwolla also provides approved customers with the ability to access faster ACH transfers. Next Day ACH is a popular choice for customers that would like to speed up funds transfers into the Dwolla network to the next business day. Same Day ACH is another option, allowing customers greater control of their cash flow and offering their trusted customers premium services by sending their payouts Same Day.
We take great pride in providing what we believe to be the best ACH API on the market. Our leading-edge technology, flexibility, emphasis on security, and focus on providing a delightful user experience are things that our customers trust our service to deliver on. If you’re interested in seeing what Dwolla can do for your platform or application, go to our sandbox environment to start building with test data for free. If you’re chomping at the bit to talk to an integration specialist, we’re here to answer all of your questions.
Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in our network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.