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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 

USE CASES

B2B Payments
Optimize your company's payment operations

Marketplaces
Pay out your sellers and providers quickly and securely

Property Management
Streamline property rent collection and vendor payments

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 real estate 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

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2 min read

September 2022 | Release Notes

REMINDER:

Instant Account Verification Deprecation

At the end of this year, Dwolla will sunset our Instant Account Verification (IAV) product, which is powered by Dwolla.js.

To avoid service disruption, we recommend businesses currently using or planning to use our IAV service to migrate their account verification to one of our third-party data providers (e.g. Plaid, Finicity, MX) before December 31, 2022.Through the remainder of 2022, businesses using our IAV solution should prepare to carry out micro-deposits for account verification in the instance that a bank discontinues support for the current IAV technology.

Please reach out to your account manager with any questions.


 
1099-K Product Update:

Prepare for the 2023 Tax Season

With significant changes to the federal reporting threshold, more 1099-K forms will be issued in the 2023 tax season.
To support this effort, Dwolla is launching a completely automated 1099-K solution that enables digital W9 collection and tax identification number validation. The solution will enable secure 1099-K issuance and delivery.

Dwolla issues 1099-K forms for client and customer transactions within our network that exceed certain federal or state reporting thresholds. For more information on what 1099-K forms are and who must file, please see our blog.

Please reach out with any questions if your business or end users will be impacted by the 1099-K updates.

 

Product Update:

Additional Bank Verifications Options

MX Technologies, Inc has recently been added to Dwolla’s Secure Exchange solution partner network. Dwolla designed the Secure Exchange solution to expand on all data and token handling as a straight exchange. Clients and reseller partners can now access account verification services using MXapi Processor Tokens.

Check out the developer docs to get started!

 

Product Update:

New Webhook Field

Dwolla clients and reseller partners are able to attach correlationIds to transfers created in Dwolla.

Beginning October 12, you will be able to access this correlationId from within the webhook payloads of webhooks associated with that transfer. This new field will only be included in the webhook payload for transfers that were created with a correlationId.

Head over to our developer documentation to view the webhook payload schema.


 

Open Beta:

Export Transfer Data to CSV

Being able to access more transfer data in a consumable way will ideally unlock more efficiencies for your team. With this new dashboard functionality, you can now export a list of transfers initiated through your platform into a CSV file.

Interested in testing this functionality and giving feedback to our team? Schedule time with our team.

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