Improved Experiences through Faster Payments
Quicker transfer of funds through Dwolla’s pay-by-bank payments can accelerate the marketplace's cash flow and enable faster payouts to sellers, enhancing seller satisfaction and potentially attracting more vendors to the platform.
- Use pay-by-bank payment methods (particularly real-time payments) and automation through Dwolla's API to speed up payment processes and accelerate cash flow.
- Enable faster payouts by allowing sellers to easily verify their bank accounts within seconds through Dwolla’s Open Banking Services.
.png?width=300&name=Untitled%20design%20(20).png)
Reduce Costs and Improve Profitability
Dwolla’s unified API provides access to automated pay-by-bank payments that can offer lower transaction fees compared to card payments, reducing costs especially at scale and improving the bottom line and buyer and seller experiences.
- Connect to pay-by-bank payment rails including cost-effective ACH and faster payment options, such as Same Day ACH and instant payments via the RTP® network and FedNow® Service.
- Gain a competitive advantage when attracting buyers and sellers by passing on cost savings as lower prices and/or higher commission rates.
.png?width=300&name=Untitled%20design%20(21).png)
Enhanced Security and Reduced Fraud
Partnering with Dwolla allows you to leverage our expertise and secure infrastructure. You don’t need to store sensitive pay-by-bank data on your platform, and we provide Open Banking Services to help you reduce risk.
- Protect payments data with a variety of enterprise-grade security measures, including encryption and tokenization.
- Employ tokenization to store and transmit account and routing numbers with a token instead of having to pass the numbers themselves every time a payment is made.
- Use open banking features like instant account verification and real-time balance check to help reduce the risk of returns and fraudulent transactions.
.png?width=300&name=Untitled%20design%20(22).png)
Examples of How the Money Moves
-1.png?width=49&name=Dark%20Orange%20(1)-1.png){kind=small}
Marketplace-to-Seller Payouts
The marketplace transfers seller earnings directly from its bank account to the seller's bank account using pay-by-bank payments.
-1.png?width=49&name=Dark%20Orange%20(2)-1.png){kind=small}
Refunds and Returns
After a customer returns an item, the marketplace processes the refund transparently by initiating a pay-by-bank transfer back to the customer's linked bank account.
.png?width=49&name=Dark%20Orange%20(2).png){kind=small}
Direct Payments from Sellers to Buyers
Payments can go directly from buyers to sellers without involving the online marketplace platform in the payment flow, helping to reduce regulatory and compliance risk.
