Payment network Dwolla announced on Thursday (Aug. 4) a new addition to the company’s offerings through its new dashboard that showcases key data for users of the Dwolla White Label API.
The dashboard allows a peek into transaction details, business trends and more, stated Dwolla in its blog post.
“Partners can easily look up and edit customer information from within the dashboard, an important feature for providing quality customer support and communication,” wrote Caitlin Zimmerman, marketing manager for Dwolla. “Customer service is a critical piece to running a successful business—partners like GOAT have been able to reduce cashout related support tickets by 80% after integrating Dwolla’s bank transfer API.”
The aim of Dwolla’s White Label API is to modernize ACH and have it operate with other business processes that have already been digitized. Users can provide enhanced customer support to their users, reconcile every payment and keep tabs on their payment integration, the company said. Dwolla said it built the administration interface so its white-label partners don’t have to waste their own time building and maintaining it.
“ACH has many positive aspects,” said Jordan Lampe, director of communications and policy affairs at Dwolla, in a report. “It’s ubiquitous, low-cost and flexible compared to credit cards. On the flip side, it has no API associated with it; there are no ‘webhooks’ [notification features] and no way to automate its integration into other platforms. It’s a 40-year-old financial transaction network that is not compatible with modern digitized business tools and practices.”
Although Dwolla is known for processing bank transfers for platforms, not every company is going to benefit from Dwolla ACH API. After all, it’s geared toward companies that are processing hundreds of transactions in a given month and are looking for a quicker way to manage the transactions.
“[A] business with one bookkeeper, HR person or executive assistant would likely defer to paying a premium for an ACH product through an existing Freshbooks or Sage-like platform,” Lampe said. “But as the company scales and needs to coordinate 500 to 600 payments a month to and from employees, vendors and clients, a more integrated back-end process might be necessary.”