GoDaddy Online Bookkeeping and Dwolla Team To Deliver Quick, Easy Online Payments for SMBs
We live in a real-time world where delays have real costs for businesses. An easy to use e-invoicing system combined with a digital payment option accelerates payment, procurement, and billing cycles while reducing operation costs associated with clerical errors, administrative overhead, and physical materials.
Having visibility into the status and completion of a payment, is control and can a yield a big ROI for small businesses. For example, it can improve procurement cycles, eliminate “lost checks” in snail mail, allow business owners to make smart financial decisions, speed up budget approval cycles, and avoid late fees.
We’ve teamed up with GoDaddy to help ensure their 12 million customers can get paid how and when they want – in the easiest way possible.
All the strengths of checks, none of its weaknesses.
Accept payments without registering for a free Dwolla account
Nevermind that it takes only 2-3 minutes and is about as painful as stepping on dandelion fuzz (or that there are no contracts and hidden fees with Dwolla), registering for a Dwolla account can still be a point of friction for most small businesses and their vendors.
To answer this, GoDaddy has created a one-step flow that allows its customers to begin e-invoicing and collecting Dwolla payments instantly without needing to register for a free Dwolla account. This means that ACME Company can send an e-invoice to the Roadrunner and get paid without any additional steps.
Once an invoice is paid, customers are invited back to register for a full Dwolla account and enjoy their savings.
Customers can pay invoices without registering for a free Dwolla account
Creating a third-party account to make a payment isn’t always convenient and may be the last thing a vendor wants to deal with as they fulfill an invoice request. That’s why, last year, we created an e-check option for multiple or one-time payments. It allows guests to access the network and initiate a transaction directly from an existing bank or credit union account to another Dwolla user. Until now, however, Small Businesses needed to code this “guest” functionality into their existing invoicing solutions or simply accept payments from Dwolla registered accounts.
The GoDaddy solution provides each of its clients with both options, allowing invoice recipients to pay with an e-check or a registered Dwolla account.
Same low-cost + free payment tools with Dwolla
Dwolla accounts are free and transactions over $10 are just 25 cents a piece (paid by recipient). Transactions under $10 are free. That’s cheaper than a stamp and about 119x cheaper than the alternative on a $1,000 invoice. That’s it. No hidden fees, costs, or gimmicks.
GoDaddy customers also receive free access to Dwolla’s low-tech tools, like MassPay, which allows businesses to upload a CSV and send thousands of payments in seconds; or Auto-Withdrawal, an optional feature that automatically routes all incoming payments directly to a connected bank or credit union account.
Improving transparency, accuracy, and control
According to the Aberdeen Group, “about 70% of incoming invoices are paper, leading to a completely manual receipt, approval and payment processes for most organizations.” Fulfilling these paper invoices with paper checks just amplifies the problems on both ends.
Add intelligence and functionality to your Dwolla transaction data
By syncing your GoDaddy and Dwolla accounts, all past and future transactions will automatically port into GoDaddy’s world-class online bookkeeping. This means richer data, clearer financial insight, and even easier taxes.