Again, all pricing is quote-based, so this could vary from customer to customer. Over the long haul, this could lead to quite a bit of savings. Lots of payment processors actually offer ACH payments as an additional part of their service. What makes Dwolla unique is that it allows you to incorporate its ACH payment technology into your platform in such a way that it looks as if it is your own. For customers, this makes your brand appear more reputable.
It also allows you to customize the payment experience in a way that makes sense for your business, which improves the user experience offered by your brand. Dwolla does not offer credit card transactions at this time although it may in the future. Compared to other payment service providers that offer credit and ACH payments, this is obviously a drawback. Therefore, before signing up for Dwolla, make sure you understand how your customers prefer to pay.
You may lose customers if you take away their preferred payment method. Another drawback with ACH payments is that they only work for domestic transactions. This could be a major drawback, especially for e-commerce businesses. Here is how Dwolla ranks on major review websites:. G2 Crowd: 4. TrustRadius: 8. Capterra: 4 stars out of 5. Business owners who use Dwolla report having a difficult time figuring out how to integrate with the API.
They also say customer service can be lacking, and it can take a significant amount of time for them to respond to your inquiries. Once the system is up and running, most reviewers reported being pleased with the service. They say Dwolla delivers on what it promises its software will do and that it offers affordable pricing to boot.
Stripe, the aforementioned white-label payment processor, also offers ACH payments. Of course, you can also process credit card transactions at a rate of 2.
Plus, there are lots of additional features with Stripe — the option to build an embeddable checkout page, an invoicing platform and a fraud prevention system — to name a few. Stripe is also a pay-as-you-go payment processor, meaning you can cancel your service at any time for no additional fee. Of course, using PayPal also gives you access to a range of additional services, including a payment gateway, financing options and even a debit card.
Payment processing fees on credit card transactions are 2. A version of this article was first published on Fundera, a subsidiary of NerdWallet. Dwolla capabilities. Dwolla pricing. Dwolla pros. Dwolla cons. Dwolla user reviews. Create a Personal Verified Customer.
Add a Debit Card Using Dwolla-cards. Add a Bank Using Dwolla. Verify Bank with Micro-deposits. Create a Webhook Subscription. Community Changelog. Get API Keys. Receive money from your users This guide is designed to get you up and running quickly through creating a one-time transfer from an end user via the Dwolla API. Test in the Sandbox for free today. Use sandbox environment to test API requests.
Financial institutions play an important role in our network. Your Dwolla Balance, if any, is held in one or more pooled holding accounts held by Veridian Credit Union. Push-to-Debit payments are typically available within 30 minutes.
Real-Time Payments are performed by Cross River Bank, which holds funds on behalf of the Receiver of such transactions in one or more pooled custodial accounts. These funds are not subject to FDIC pass-through deposit insurance. Testing in the Sandbox. Generate an OAuth Access Token. Send Money to Users. Receive Money from Users. Transfer Money Between Users. Transfer Money Me-to-Me.
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