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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 

Connect
Direct bank connections 

INDUSTRIES

Insurance
Modernize outdated insurance payments

Real Estate
Revolutionize your real estate payments

Lending
Accelerate your lending operations

Healthcare
Elevate your healthcare payments

Manufacturing
Transform your manufacturing payments

USE CASES

B2B Payments
Streamline your business payments

Unload/Load Digital Wallet
Seamlessly move funds on and off your platform

Payouts
Pay out funds quickly and securely

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2 min read

January 2024 | Release Notes

 CONNECT

Feature Enhancements for Dwolla Connect

  • Correlation IDs
    • When working with the Dwolla API, it can be difficult to match Dwolla resources with items in your own system. A correlation ID is a common “tag” among these elements that you can use to log and audit payments, ultimately allowing you to easily find and fix any problems that arise.
    • Pass a correlationId when you create a Customer, Funding Source or Transfer in the API. You can also filter the list of Customers, Funding Sources and Transfers by correlationId
  • Addenda Records 
    • Easily pass additional information to the payment recipient using the addenda field. This value will be passed in a Transfer in the API and can be exposed on an External Party’s bank statement. Addenda records provide a unique opportunity to supply your customers with more information about their transactions. Additional details about the transaction—such as invoice numbers—provides the payment recipient with more information about the transaction in the comfort of their own banking application.
  • Transfer Search
    • Quickly and easily locate transfers with the ability to search and filter. 

DASHBOARD

New Dashboard Pages for Dwolla Connect Clients in the Unified Dashboard 

  • Transfers - Dwolla Connect clients can now view their transfers and details regarding each transfer in the Unified Dashboard. 
  • Transfer Details - Dwolla Connect clients can get additional information for each transfer, including details on the source and destination of the transfer. 
  • External Parties - Dwolla Connect clients can now view all external parties that have been set up to send and receive transfers. 
  • External Party Details - Dwolla Connect clients can view additional information regarding each external party. 

BALANCE

Beta Features 

We recently launched two beta features for our Balance product.

Custom Company Entry Descriptions: When you initiate an ACH transaction, you can now set a custom Company Entry Description (CED). This field provides a brief description (up to 10 characters) of the purpose of a transaction. Since the CED appears on the recipient’s bank statement, it helps the recipient understand the nature of the payment and aids in reconciliation and record-keeping.

Refund Transactions: By default, credit transactions initiated through Dwolla Balance are considered payments for goods or services. This can affect end users’ eligibility for IRS Form 1099-K, since refunds to end users can inadvertently cause them to be eligible for 1099-K reporting. With a new API field called intent, you can now mark the transaction appropriately as a refund.

If you’re interested in learning more about either of these beta features, please reach out to product@dwolla.com.

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