By: Dwolla,

After switching payments providers, Qoins, a mobile debt-repayment and savings app, improved margins by 10% with Dwolla’s API.

In 2016, NerdWallet reported that the average American household carries $16,000 in credit card debt. Qoins targets that problem; the app rounds up spending and applies that amount to pay off a user’s debt.


Qoins needed to facilitate the distribution of funds from users’ verified bank accounts on a monthly basis to apply towards debt. It called for a payment API that could scale and be integrated seamlessly.


Replacing a previous payments provider, Qoins integrated Dwolla’s API to facilitate its thousands of monthly transactions, improving its margins by 10%.

The Situation

Qoins is a mobile application that rounds a user’s purchases to the nearest dollar and uses that change to send out payments to pay off the user’s debt automatically.

Within a thoughtfully designed interface, users start by connecting their respective debit cards and then dictates where the “rounded” savings should be sent. 

As the user makes purchases, that spare change is withdrawn and then once a month applied to the designated accounts to pay down debt. On the backend, the application needs to first withdraw the accrued amounts of change from a user’s bank account and subsequently apply that withdrawn amount to a credit card payment.

After its previous provider left them in the lurch, Qoins needed an easy-to-integrate, reliable platform to connect users’ bank accounts and facilitate this transfer of funds.

The Challenges

Qoins was coming out of beta and about to launch its mobile application when its previous payments provider withdrew its ability to support them. The team at Qoins was then left searching for an API that could be integrated seamlessly while reducing the pains of on-boarding for new and current users of the application.

Users were already contributing an average of $50 towards their debt each month, so Qoins was looking for a solution that would scale. To support its growing base of daily active users confidently, it needed to facilitate thousands of transactions each month, and there wasn’t the time or bandwidth to build a payments solution from scratch.

Qoins put its users’ information security at the top of its list of priorities, and the ability to send information off and tokenize it for future use was of the utmost importance.


“We needed a reliable payments platform that could deliver an API that simplifies the process and allowed us to deliver the basic functionality our application required. The API did just that, and more…and we knew we could count on their team as a long-term provider as we grew our company.”

Nate Washington, Co-founder & CTO

How Dwolla Helped

Improved Margins

In facilitating 5-10 transactions for each user every month, Qoins was paying a per-transaction fee to its previous payments provider. Financially, this was simply not scalable as Qoins continued to see steady user-growth and daily activity; the company needed a solution that was more predictable in costs.

Solution: Upon switching payments providers, Qoins moved away from a per-transaction fee model and instead integrated with a payments platform that offered predictable SaaS-based pricing.

Outcome: Qoins increased its overall margins by 10% since implementing Dwolla’s API.

Seamless Transition

Above all, Qoins was looking for an implementation that provided minimal interruption through both the integration as well as in the onboarding of new and existing users.

Solution: Qoin’s developers were drawn to Dwolla’s straightforward developer documentation. Additionally, the integration allowed Qoins to facilitate the movement of its users’ money while keeping its brand at the forefront of the process, making for a smooth onboarding and transition for both new and current Qoins users.

Outcome: Qoins was able to transition its payments functionality to Dwolla’s API in just four business days. This swift and smooth transition prevented Qoins from incurring any interruption to the application’s service.

Reliable Relationship

Qoins knew all too well the value of a good service provider. The company was looking for a payments provider that was reliable in its support as well as up-time. Qoins required a secure and tokenized process and was very thoughtful about entering a new partnership.

Solution: With guidance from our Account Management team, Qoins integrated the API. Additionally, the Dwolla tokenizes high-value data in the financial transaction.

Outcome: Qoins is able to confidently facilitate thousands of transactions each month, helping its users pay off more than $500k in debt in its first year as an application.

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Financial institutions play an important role in the Dwolla network.

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.