More and more businesses are realizing the benefits of using ACH transactions for business-to-business (B2B) payments.
The ACH Network moves an extraordinary amount of money and it is growing. Last year, more than 25 billion transactions passed through the ACH Network, moving more than $43 trillion in 2017. And according to NACHA (National Automated Clearing House Association), the ACH Network handled nearly six billion transactions in the second quarter of 2018, a 6.2% increase from Q2 in 2017.
Businesses can use the Dwolla Platform—and Dwolla’s API—as an onramp to access the ACH Network for B2B payments. In today’s electronic world, businesses don’t need a multi-step payment or reimbursement process. A third-party payment provider—with a delightful user-experience—can help bring your offerings to another level. That’s what Dwolla does.
Dwolla’s white-label API, B2B payments through the ACH Network can be streamlined for recurring transactions or one-time reimbursements.
“One of the benefits is time,” says Nicole Kile, an accountant with Dwolla’s Accounting and Finance Team. “Instead of writing checks, filing them, running to file cabinets to sort them or find an old one, everything is at your fingertips through the dashboard. Further, recurring payments can be automated, which frees up time for more important things.”
Dwolla’s Accounting and Finance Department uses the Dwolla Platform to initiate reimbursements to Dwolla employees or to issue a B2B payment.
Kile says that Dwolla allows her relatively small team to stay efficient compared to Dwolla’s volume of payments.
“If we had to use a check-writing system for all of the payments we make—all of our vendors, all of our employees’ reimbursements, all of our bills—it would take up an incredible amount of time,” Kile says. “Most of that is done right through Dwolla. This platform definitely makes our lives easier.”
Determining the type of payment system to use for B2B payments is not easy, especially with so many different ways to transfer funds and process payments. Regardless of how many B2B ACH Transfers your business handles, managing your finances is of the utmost importance.
Your ideal payment solution should be flexible and adapt to evolving business needs. Streamlining B2B payments through the ACH Network—with Dwolla—allows you to focus more on your business, while Dwolla helps with payments.
And Dwolla customers are reaping the benefits.
“I think ACH makes a lot of sense in general…” said Chris Bruno, CEO of Rally Rd. “And once you decide to go with ACH, Dwolla was really the only game in town.”