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PAY BY BANK

Instant Payments
Real-time payment processing.

Same Day ACH
Same day payment processing.

Standard ACH
Standard processing times.

 

 

 
FEATURES

Unified API
Fast transactions integrated with open banking all in one platform.

Automated Payments
Modernize your payments with pay by bank automation.

Mass Pay
Send multiple bank transfers with a single API request.

Open Banking Services
Instant account verification, balance checks and fraud mitigation.

Digital Wallet
Initiate faster transactions by utilizing Dwolla's Digital Wallet to hold funds.

 

 

Data Visibility
Access and manage your payments data through our user-friendly dashboard.

Security
Dwolla's platform is monitored 24/7/365 using a combination of internal and external tools and services.

Integration
Dwolla makes integrating pay by bank payments fast and easy.

Sandbox Environment
Simulate use cases and try out features.

Dedicated Support
Supporting your payments journey every step of the way.

SOLUTIONS

Enterprise
High-transacting payment automation

Balance
A digital wallet solution

Connect
Bring your own bank

 
USE CASES

B2B Payments
Streamline your business payments

Marketplaces
Facilitate fast and reliable payments to your platform's sellers

Property Management
Efficiently manage rental income and outgoing property expenses

Unload/Load Digital Wallet
Seamlessly move funds on and off your platform

Payouts
Pay out funds quickly and securely

INDUSTRIES

Insurance
Upgrade your insurance payment processes for speed and efficiency

Real Estate
Streamline payment flows for every property transaction

Lending
Expedite loan disbursements and streamline repayment collections

Healthcare
Simplify patient billing and streamline provider reimbursements

Manufacturing
Optimize B2B payments across your supply chain and operations

Gain a Competitive Edge with Instant Payments

Integrate Dwolla’s payment technology to connect with the RTP® Network or the FedNow® Service and access 24/7/365 payments with real-time notifications.
Automate Your Payments
Instant Payments Feature

The Benefits of Instant Payments

Consumer demand for instant transfers and more convenient payment options is on the rise. Buyers expect immediate gratification through seamless digital transactions. Traditional payment methods, like cards, checks and legacy ACH files, no longer meet the needs of consumers or businesses who require real-time payment processing.

Instant payments aim to bridge this gap by providing a seamless connection between digital transactions and the actual movement of funds, facilitating payment automation.

Instant payments with Dwolla clear and settle almost immediately. They dramatically improve cash flow by providing near-immediate access to funds, unlike traditional payment methods that may take days to settle. This eliminates delays, allowing businesses to use funds immediately for payroll, expenses or reinvestment.

Instant payments can also streamline operations by reducing the need for manual payment automation and reconciliation, thanks to the extensive remittance data accompanying each transaction. Their 24/7/365 availability increases convenience and flexibility for businesses.

Send Funds in Real-Time
Send payments to bank accounts via the RTP® Network and FedNow® Service.
Improve Payment Transparency
Instant payments include immediate, detailed remittance data with each transaction, providing far greater visibility into payments than traditional methods.
Initiate Instant Transfers From Your Existing Bank
Access the RTP® Network and FedNow® Service through a single API integration and your existing banking relationship.
“RTP with Dwolla has given us such a competitive advantage. Before, drivers would wait up to 24 hours to have money in their bank account. For some, that means their business stops. With RTP, funds are in their account in minutes. RTP is the preferred payment method we keep hearing from our clients and Dwolla has simplified that for us.”
Financial ServicesChief Executive Officer

Instant Payments Explained

Instant payments are a type of pay by bank transaction that is processed and settled in real-time or near-instantaneously, revolutionizing the speed at which businesses can operate. In the United States, two primary systems facilitate instant transfers: the FedNow Service and the Real-Time Payments (RTP) network.

The RTP network, launched by The Clearing House in November 2017, has grown significantly. In fact, the RTP network’s real-time payment processing is available to financial institutions that hold close to 90% of U.S. demand deposit accounts. Launched by the Federal Reserve in July 2023, the FedNow Service provides an alternative instant payment system for U.S. financial institutions. It has also seen incredible growth since its launch, recently surpassing 1,000 financial institutions participating in FedNow.

The adoption of instant transfers in the United States is rapidly increasing. According to a U.S. Bank study, over 40% of companies exceeding $100 million in revenue already use the RTP network to conduct instant transactions. The study also revealed nearly 70% of businesses anticipate adopting instant payments through RTP or FedNow within the next two years.

How Real-Time Payment Processing Works

Instant payments are a payment method that allow for near-instantaneous transfer processing via the RTP® Network and FedNow® Service.

Key Points to Note for Instant Transfers:

Instant Payouts for the Gig Economy

  • Independent driver-contractors need fast access to capital to grow their business and meet the everyday challenges presented to them: car repairs, rising gas prices, tollway fees, new technology and more.
  • They needed an API with clear documentation that they could integrate quickly and support their various funds flows.
  • They were able to integrate with Dwolla’s single API in less than 20 days.
  • After partnering with Dwolla and adding RTP, this Fintech saw a 75% year-over-year increase in transaction volume, an 80% YOY increase in users created and a 24% YOY increase in active users.
Image of taxi drivers and semi truck, with Dwolla hexagons in the background.

Real-Time Payment Processing for Fintechs

  • This Fintech launched their application with the objective to help their users access credit in a more equitable way.
    Because of the ongoing competition with credit cards, where funds are available right away, they understood the need to shorten the transaction timeline to remain competitive.
  • Since implementing Real-Time Payments with Dwolla, they have seen a 1,440% increase in transactions and a 46% increase in active users.
Dwolla dashboard on a computer with code in the background. On top of the computer is an API icon.

Automate your payments in as little as ten days.

Dwolla's full-service approach replaces legacy payments technology with a single solution, improving security, data visibility and the customer experience.

 

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