On-demand Bank Transfers by Dwolla - Collect variable payments from a payer’s bank account

For those of you not in this space, I cannot emphasize enough just how tough it is to be able to set up ACH transfers, especially if you're doing anything even slightly outside of the norm. Dwolla has been an incredible partner for us and has given our savers the ability to transfer money amongst multiple accounts in their control. While a third party service to help you save across your own accounts may not seem like a controversial service, it's something that, in our experience, most other payment providers or banks shied away from. This is yet another great step towards a more accessible and easier banking/integration world.

Hey ProductHunt, my name is Jordan. James, our product manager for on-demand bank transfers, is also here. First, a quick history lesson: At Dwolla, we've worked exclusively on bank transfers for over 5 years. A matter of fact, back in 2011, we were the first network to open our APIs. It allowed developers to easily and quickly leverage the bank transfer network, called ACH, with simple Dwolla-branded end-user experiences and flows. Lately, however, we’ve been making it easier for platforms, like Sweep.co, or marketplaces, like GOAT, to brand, control, and enable their own end-user experience via our new white label API. About On-demand bank transfers: Many platforms need to collect payments from their customers in the future. These could be for fixed or variable amounts, recurring or one-off. To date, using ACH for this sort of billing has been hard to build and support. On-demand bank transfers allow platforms to enable their payers to authorize transfers for variable amounts from their bank account using ACH at a later point in time for products or services delivered. It’s one simple additional step—a quick authorization from the customer when they instantly verify a bank account. On-demand bank transfers allow platforms to enable their payers to authorize transfers for variable amounts from their bank account using ACH at a later point in time for products or services delivered. It’s one simple additional step—a quick authorization from the customer when they instantly verify a bank account. This is great for companies like: - Cloud computing services. Fees can be different every month, requiring ongoing authorization so a customer can easily pay for a service, and the company can easily bill for the service. - Utilities. A water company bill is rarely the same each month. Same with electrical, and gas. The amount collected at the end of each month is usage-based, or metered. - Ride sharing or asset sharing platforms. The amount a customer is charged for a ride across town depends on a variety of factors. We make it easy for sharing companies to bill their customers, while reducing the hassle for the end customer on each trip. - B2B services that bill on a variable basis. Some orders may require a bank transfer on NET terms and others may be fulfilled once the goods are delivered. Either way, both should be possible.

This is great. I have a question regarding you integration model with the banks. What type of integration do you use, do you integrate with each of your bank partners on a Core Banking System level?

Congrats on the launch!

Interesting!!!

From a UX perspective, you should probably change the GIF on your homepage. I really thought it was a live demo until I realized it was just an animated GIF.

@jslampe Would I be able to, for example, authorize a payment today (see if funds are available) and then collect that payment at a later date?

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