Invest in an integrated payment solution for your platform that allows you to maintain control of the customer experience, while reducing your compliance and processing headaches.
A retail marketplace and a mobile fintech app were faced with a number options when selecting a solution that addressed their unique ACH processing needs. Ultimately, each elected to go with Dwolla’s feature rich, easy to integrate bank transfer API for one overriding reason: time to market. In addition, each placed a premium on controlling the payments experience through Dwolla’s white label service and valued Dwolla’s guidance in managing the compliance requirements. Both the retail marketplace and the mobile fintech app are able to achieve funds transfers via a trusted partner, allowing them to focus on their core business.
The same rationale applies to anyone who is looking to transfer funds electronically. Whether you’re looking for a straightforward disbursements solution or a more holistic, end-to-end payments experience—including instant bank verification and managing compliance requirements—Dwolla’s robust payments platform allows you to facilitate payments from, to, or between your customers.
Phase 1 – Funds transfer wrapped inside of 4 endpoints
We took a phased approach to the latest version of our API. The first phase allowed platforms to process bank sourced transfers in a white label capacity, and in many cases, not requiring re-collection of the customer data already on file. It’s a perfect solution for payouts, an integration consisting of only 4 endpoints.
Phase 2 – Customer verification
At the completion of phase 1, moving money was limited to the receipt of funds by a customer—a perfect use case for disbursements. The second phase extended the current, phase 1 customer onboarding flow. Now, with the same #customers endpoint, we were able to provide our partner with an automated identity verification solution, accounting for the CIP data elements required for both customers sending funds and allowing a customer to hold funds.
Phase 3 – Bank verification
The third phase focused on bank account verification. We released Dwolla.js—a powerfully simple integration that partners can leverage to embed an instant account verification process within their platform, or securely collect account and routing numbers. With Dwolla.js, sensitive customer financial data never touches a partner’s servers. All this, in a few lines of code.
We are never done. While we continue to migrate additional functionality over to the white label experience, such as an improved mass payment flow, we ask that you provide feedback and suggestions on the v2 Dwolla API.
Is navigating the complex world of building your own payment platform pushing your launch date back? Let Dwolla help you get off the runway.
Interested in how your business could be utilizing the Access API within your platform or application? Reach out to our sales team.