Ditching the “chicken & the egg”
Announcing guest checkout, Dwolla price, & new POS integrations
As of today
• You no longer need a Dwolla account to checkout online
• We have 20 amazing launch partners
• We are introducing Dwolla Price, a discount for paying with Dwolla
• We have new POS integrations and payment flows
Eliminating ourselves from transactions, a bit
Dwolla’s mission in life isn’t that complicated: it’s to create the ideal exchange. And we have some basic beliefs about how it should be done. Unfortunately, many of the processes and structures needed to create this experience aren’t possible with current networks (e.g. fraud, accessibility, and costs). That’s why we created Dwolla.
Today, however, is about addressing one of our own shortcomings: the “chicken or the egg” dilemma. This metaphor is meant to explain the difficulty in establishing a mutual connection between two parties in order to transact inside a network. For example, merchants that accept American Express are dependent on whether or not their customers hold an American Express card, and vice versa. Likewise, Dwolla merchants have been dependent on whether or not their customers have a Dwolla account to pay with Dwolla. This “members-only” mentality contains and limits the payment experience, but has been a hallmark of the electronic payment industry for sometime. For the last year, we’ve been hard at work improving Dwolla in order to open our network and set it free.
You no longer need a Dwolla account to checkout online.
Now, with Dwolla’s new guest checkout integration option, anyone can use Dwolla to make a one-time payment from his or her financial institution to an online merchant or marketplace.
What does this mean?
Traditional wisdom in the payments space says, “you get a customer’s data, monetize it, tax it, and never ever – under any circumstances – share it [unless someone pays handsomely].” We feel like that kind of sucks, and we knowit doesn’t need to be as unfair, expensive, or insecure as many would like us to believe. Bottom-line, in our system, this “secret handshake” mentality has become a pain point for our business trying to sell something and a consumer wanting to acquire something. Our job is to find and remove those pain points that get in the way, even if it’s us.
|For consumers||For merchants|
|• No need for a pre-existing Dwolla account
• Free to pay: no hidden fees or costs
• Cardless and checkless
• Safer than writing checks
• Safe and secure Dwolla network technologies
• Save money with Dwolla price (with participating merchants)
• Privacy conscious (we do not sell your data!)
|• Increased profit margins and savings over credit cards
• Flat 25 cent fee for transactions over $10, under $10 is free
• Easy to add Dwolla as another payment method
• Fluid offsite checkout experience
• Automatic PCI compliance
• Free tracking and reporting
• Additional API documentation and features
You can now shop at these amazing companies without a Dwolla account.
|ZooZ enables mobile developers to quickly integrate payments in their apps. Our SDK offers a truly universal mobile checkout that is fast, secure and easy to use. User details are stored in a PCI compliant cloud environment and shared across supporting apps to enable higher conversion rates.|
|WebHostingBuzz is a leading provider of web hosting services to over 250,000 websites from small to large; operating multiple globally diverse datacenters. Whether you are an individual, a small business or a larger corporation, we can provide web hosting that meets your demands.|
|Tortoise & Blonde is the eyewear company your mother warned you about. All of their styles start at $97 complete with Rx lenses. Go ahead, get your lenses dirty!|
|We help retailers multiply revenues with a turn key multi-channel ecommerce solution that enables them to sell across eBay, Amazon, Google Shopping, their own storefront, and more.|
|Startup Threads is a merchandising service for startups. We want to make it easy for you to get the merchandise you need, so you can focus on the rest of your business. Let us know what ways we can serve you and we’ll do the work to make it happen.|
|Seconds is a payment system allowing you to complete transactions via the desktop web, mobile web or text message. It shouldn’t matter what method or device you use, the payment experience is as quick, simple and intuitive as sending a text message. Try it today by participating in GIVENATION and giving to the Hurricane Sandy relief effort.|
|Reddit Donate is a simple button that connects the nation’s most progressive nonprofits with the front page of the world wide web.|
|With PayTap’s Shared Payment Platform anyone can post a bill or item online and split the payment amongst family and friends. PayTap is shared payments, fast, secure and direct.|
|Muzooka is a social music streaming app that brings Artists the world’s top Producers and Music Lovers together in one space.|
|Small Farm Central provides technology solutions to farmers across the US and Canada, including farmer-centric websites and a specialized solution for Community Supported Agriculture (CSA) farms. This “Member Assembler” technology handles sign-up and the back office for this subscription-based farming model and gets farmers back into the fields instead of spending all day in the office.|
|Path.To is a platform that connects top Tech and Designer talent with jobs that they will love.|
|As a brand new exciting payment experience, HouseTab brings a Social Mobile Payment System that enables members to skip credit cards and load cash directly from their smartphones to use for payments with member merchants. Check-in, and get real merchant-driven discounts right away, not just badges! Send drinks and other goodies to other Regulars … whether across the room.., across town, or.., across the country!|
|Gombler application allows the user to create a match for a specific amount of money (real or play) and compete against other users who accept your stakes and match conditions. All you need to do is create an account, download the program, add real or play money to your account and defeat all challengers!|
|Givr is a platform built to make mobile giving simple and easy for nonprofits and donors.|
|FreeAgent is an award-winning online accounting system specifically designed for freelancers and small businesses. Used by more than 25,000 customers worldwide, it lets you send invoices, track time and expenses, analyse bank statements and build real-time accounts, all done simply with no confusing accounting jargon.|
|Eborhood.com is turning heads as it’s the newest and best way to trade goods and services online with no set fees – and it’s Dwolla’s new best friend. It’s a safe, online environment that focuses on protecting consumer while allowing the most flexible way to buy, sell and trade stuff online.|
|Dash turns any vehicle into a ‘smart car’. A hardware/software utility like Nest for home, our goal is to make the road smarter, safer and more affordable for drivers. Come join us for the ride at www.dash.by.|
|Casual Corp is a social product studio passionate about building startups and streamlining the entrepreneurial process.|
|Angelwish helps you grant wishes to children in need with chronic illnesses in the most impactful way possible. Grant a wish and we’ll give it to the parent to give to their child.|
|ActiField’s flexible e-commerce platform helps organizations who sell tickets and accept registrations for their events and activities better understand and interact with customers to build stronger relationships.|
|SupplyHog lets contractors obtain the building materials they need without all the hassle of finding the best price, and we ship directly to your job site.|
So what does it do?
Guest checkout adds Dwolla’s payment engine to traditional bank-issued transactions, allowing the same level of security, safety, and innovation regular Dwolla users enjoy.
How does it work?
1. Customers checking out as a guest are routed to Dwolla’s offsite gateway
2. Fill out basic personal information and verify phone
3. Use Dwolla to connect to your financial institution
4. Review shopping cart
*Flow, process, and methods change from integration to integration. See our screenshots of integrations.
Introducing the Dwolla price
The Dwolla price is a great way for merchants and developers to encourage customers to use Dwolla by passing some of the savings back to the customer when they pay with Dwolla. It’s simple. Discount your price by half of what you saved in credit card fees. If your product sells for $100 and your credit card processing fee would have been 3% (or $3), then the Dwolla Price would be $98.75. That’s $100 – ½ of ($3 – the 25¢ Dwolla fee). Visit http://dwolla.com/
Bonus: POS Integrations and new mobile payment flow
Nicely hidden as “request” in the API documentation, we’ve had this sucker in the hands of point-of-sale integration partners for almost a month now. The new endpoint allows the point-of-sale, not Dwolla’s app or mobile wallet partner, to initiate a payment and send the customer a push notification on their phone to authorize the payment. This eliminates the need for a Dwolla user to a.) proactively open the app b.) select the merchant c.) type in the payment amount. All you’ll need to do is authorize the payment with your credentials.