Dwolla integration

Dwolla integration

We are excited to announce our brand new integration with Dwolla! Lots of traditional credit card payment gateways have added support for ACH over the years. These APIs lowered the barrier of entry for merchants to accept bank to bank transfers. Unfortunately, virtually all implementations offer transfer times of at least 3 to 4 days. Introducing Dwolla: the company has built over the years a robust infrastructure specifically designed to offer a more modern way to access and leverage the ACH transfer network. The result reduces the transaction time down to as little one day and provides the building blocks for all sorts of integrations, business models, payment flows and end-user experiences (your users don’t even need a Dwolla account). You can trigger a payment by having your customers authenticate into their online banking account, recurring, variable payments for subscriptions are supported through On-Demand Transfers and you can even trigger payouts if you are a marketplace. Building this integration had been on our radar for a very long time, but we just never had the time to focus on it. Luckily, once again, the community helped. A consulting firm from Argentina took on the task, and they did a terrific job implementing a full solution! This new plugin supports both Dwolla Direct (co-branded product, easier to setup), as well as Dwolla White Label (for deeper, seamless experiences within your own native applications). Funding sources can be verified through both IAV (Instant Account Verification) and Micro-deposit verifications, and Dwolla.js makes sure that no sensitive payment information hits your servers. You can even configure it to listen to webhooks, to get...
Kill Bill partners with Forte to offer ACH transactions

Kill Bill partners with Forte to offer ACH transactions

ACH is incredibly popular in the US. In 2013, the network processed about 22 billion transactions, with a total value of $38.7 trillion. So, if you want to accept it on your website, how do you get started? Usually, the first step is to partner with a bank, which will become your Originating Depository Financial Institution (or ODFI). It will act as the intermediary between you (the merchant, or originator) and the Federal Reserve. To initiate a transaction, you will upload a file to the bank FTP server. Once the OFDI processes it, it will forward the request to the Federal Reserve and either credit or debit your bank account. In turn, the Federal Reserve will transmit the transaction(s) to the recipient bank account (Receiving Depository Financial Institution or RDFI), which will update its account balance as well. If the request doesn’t go through (because of insufficient funds, invalid account number, etc.), the RDFI will send a return file to the ODFI (again via the Federal Reserve), which will update your balance accordingly. This process can take up to 5 days and isn’t easy to implement at a technical level, assuming you managed to find a bank to work with it in the first place. Luckily, some actors are actively trying to disrupt the space to not only speed up the transfer of money but also to lower the barrier of entry into the network. Today, we’re pleased to announce that we have partnered with the team at Forte and have integrated their Advanced Gateway Interface (AGI) into Kill Bill. You can now very easily add an ACH option...