Software companies looking to expand its services while adding invaluable functionality to their applications need to consider the value of a payments integration through the ACH Network. Integrating Dwolla’s ACH optimized API as a payment solution for your business can automate your manual payment processes and enable online payments making your business a more efficient machine.
For example, a property manager can use this platform to collect rent each month, eliminating the need to use paper checks. This investment application chose Dwolla as its integrated payment solution to enable its users to move money between their existing checking and savings accounts to save for retirement, while also donating to nonprofit organizations they believe in. A payment integration solution like Dwolla can be used in countless ways.
Integrating Your Application With Dwolla’s ACH API
Dwolla offers a powerful integrated payment solution with the U.S. banking infrastructure, making ACH payments simple, flexible and affordable in a way that looks and feels like the way a modern payment solution should. Dwolla allows you to keep your brand at the forefront, while we power payments behind-the-scenes.
Dwolla is technology agnostic—meaning that you can easily integrate our payment API alongside other payment or API solutions that your platform needs in order to do business. Dwolla also offers additional integrations for real-time ACH fraud monitoring with Sift to enhance your payment integration.
We’ve seen marketplaces implement credit card solutions on the front end to accept payments, then integrate Dwolla’s bank-to-bank transfer and bank verification services on the backend to facilitate wallet-like and/or direct deposit-like functionality.
Integrate A Developer-Friendly API
So, what makes Dwolla’s ACH API for payments so developer friendly? Some of the functionality includes:
- White labeled by design
- RESTful API
- Events and webhook subscriptions
- Pre-authorized transactions
- Facilitator fee functionality
- Hold balances (wallet-like functionality)
- Expedited transfers (Next Day ACH or Same Day ACH)
- Mass payments
- Bank account verification
The Dwolla Platform is the culmination of our efforts to build a payments API with security and user experience in mind.
We don’t see security and compliance practices as simply checking a box; we believe it’s something that should be encompassed in all aspects of the payment solution. It’s something that customers expect and deserve, so we’ve put in the time and resources to develop payments expertise you can benefit from.
Here are some examples of companies that have seen real results from building a more streamlined and automated payments process into their platform or application:
How a retail marketplace integrated Dwolla to deliver payouts with an ACH API
- The simplified funds flow and notifications decreased cash-out related support tickets by 80% and time to resolution by 50%.
- By owning the customer experience from end to end, the need to redirect sellers to multiple third-party sites in order to register for different digital wallets was eliminated. Sellers simply receive sneaker payments to their bank accounts. This has reduced sellers’ time to liquidity from up to 7 days to an average of 2, and increased bank transfer payouts by 50%.
- The Dwolla customer was able to quickly and deeply integrate Dwolla, launching a branded bank transfer option to their sellers in just 10 days—quickly stopping the 2% to 3% bleed caused by credit card payouts.
How a rental management platform leverages Dwolla for its payment integration
- The real-time status updates from the API let the Dwolla customer confidently leverage the ACH infrastructure to automate payment flows—rent payments, late fees, and reversals. The customer decreased time spent on manually processing reversals by 90% while simultaneously improving transaction-related communications.
- By integrating bank verification processes, the Dwolla customer was able to decrease some of its regulatory and compliance challenges.
What could you and your platform provide to your customers by integrating Dwolla? Get started testing in our sandbox environment for free, or contact our sales team to get started planning out your ideal payments integration.