Modern Payments Platform Dwolla Expands Low-Code Offerings

Dwolla, a modern payments platform, announced today an expansion of its Drop-In Components in the continued effort to lighten the technical lift that comes with integrating a payment API. These low-code components reduce a payments integration by thousands of lines of code and dramatically shorten the time to value for developers with or without technical experience.

“Companies of all sizes can copy and paste a Drop-In Component to save a significant amount of time on aspects of their digital transformation,” said Dave Glaser, President and COO of Dwolla. “Our engineering teams worked with current customers to identify areas of opportunity within our integration process that could be streamlined. These upgrades today make it easier for new and existing Dwolla customers to create a seamless payment experience with the flexibility of multiple payment options that meet their unique needs.”

U.S. regulations require that payments companies collect certain information to verify the accounts they create—including accounts on the Dwolla Platform. One particularly tricky set of data is collecting identifying information for any “beneficial owners” of the company, meaning individuals who own or control 25% or more of a company. Using the new Beneficial Owners drop-in component, Dwolla’s customers can streamline the collection of required information to add or remove beneficial owners to their accounts using a UI component while ensuring the sensitive information such as a social security number or date of birth doesn’t hit their server.

For an end user needing to upload a document for identity verification, Dwolla provides a Document Upload component, which allows Dwolla’s customers to leverage Dwolla’s experience in best practices for user onboarding.

“Innovation is at the heart of everything we do at Dwolla,” said Skyler Nesheim, Senior Vice President of Technology at Dwolla. “By launching more Drop-In Components, we’re building an even stronger payment experience for our customers and removing layers of complexity for integrating an API—all while enabling a faster ramp time to begin transacting.”

Dwolla has simplified the complex process of navigating various payment networks through its payment API, allowing businesses to use Drop-In Components to embed Dwolla’s technology into their core products or applications by changing only a few lines of code. Unlike non-configurable payment providers, Dwolla’s white-labeled product gives customers the ability to control the payment experience, keeping users submerged within their own unique brand, use case and customer needs. By integrating Dwolla’s payment API, companies have the flexibility to offer multiple payment types, including ACH, Push-to-Debit and Real-Time Payments via The Clearing House’s RTP® Network.

“Dwolla’s easy-to-use API allows us to deliver an exceptional payment experience for our users while maintaining our clients’ brand identity,” said David Glines, CEO of Zorzees. “By using Dwolla’s Drop-In Components, we were able to reduce costs and save weeks of development work and more easily initiate money transfers. It’s as if we cloned our team to make these ourselves.”

This news follows Dwolla’s recent announcement of Real-Time Payments powered by Cross River Bank, which allows businesses to connect with RTP-enabled financial institutions and move money within seconds to a bank account. Dwolla currently supports more than $20 billion a year in gross payment volume, increasing nearly 80% in 2020. With the addition of Real-Time Payments, Dwolla expects to increase its transaction volume by more than $1 billion this year alone.

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