As we develop our partnerships, we’re seeing exciting new ways that our ACH API is being put to use. With that, we wanted to share some items that may not seem obvious—read on to learn 5 things you may not know about Dwolla.
The fintech revolution is here, look left and right and you’ll see new applications and platforms enabling smarter use of money, be it for investment, savings or simply paying back friends. When Dwolla was first developed we focused on putting our mobile app in the hands of users to pay their favorite businesses. Things have changed.
Today, we’ve realized the value of our API is in what others can build with Dwolla powering ACH transfers.
For example, a fintech startup needed a solution to allow its application users to move money between two bank accounts. They integrated Dwolla into their application. Now, whether a user wants to move funds from Bank of America to Wells Fargo or from Wells Fargo to a Chase bank account, they can.
Summary: If you’re building an application, Dwolla’s API can enable a peer-to-peer funds transfer function between various bank accounts.
If there’s one thing Dwolla does well, it’s bank (ACH) transfers. Programmatically or electronically bringing traditional ACH processing into the 21st century is our jam. Where do bank transfers perform best? Often times in investment platforms or paying out vendors or contractors that fuel your marketplace or on-demand service model.
We don’t mind if you use other payment vendors to accept credit or debit card payments. We’ve partnered with a number of large marketplaces that use Dwolla exclusively for paying out suppliers, while using other payments APIs on the front end to process credit cards.
Another value-add to partners is the extent to which you can customize a White Label payments integration. Dwolla can help you facilitate bank transfers via the ACH network for your customer through your own platform. Imagine a payments experience that feels and looks just like your website or portal—we’ve got that.
With our customizable stylesheet, one partner’s integration can look vastly different from the next. Change the fonts, alter the button colors, it’s all up to you. We’ve built a demo of our dynamic bank verification experience so you can play around with it.
Mobile apps appear to be taking over the world. Sure you build a website, but the number of users accessing your application while on their phones is on the rise. Dwolla plays well here, too. Our API works with mobile seamlessly.
For example, the fintech startup we mentioned above, built a mobile application and easily integrated Dwolla to provide a bank transfer functionality. More and more, we’re seeing partners with similar needs, and Dwolla has proven a good fit for their payments.
What does this mean? We use hypermedia, basically links & link relations, to tell you about all the actions that can be performed on the current resource, allowing you to traverse the API from a single entry point.
The entire API is discoverable starting from the root URI, documentation is not needed!
If you’ve learned something new about Dwolla’s API for bank transfers and want to learn more about how we can help you discover a tailored solution that fits your platform’s needs, simply reach out!
Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla 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.