Seconds is happy to announce our partnership with Dwolla for their latest product release, referred to as guest checkout, allowing anyone to use Dwolla to make a one-time payment from their financial institution to an online merchant or marketplace.
Why is this so awesome? Now people can make Dwolla payments, in Seconds.
Simply put, Dwolla is great. For months we have been evaluating how to include Dwolla payments in our mobile payment experience. Their online and mobile payment network enables friends, families, and businesses to move money in a way that is safer, faster, and significantly more affordable than traditional payment options. We always believed in Dwolla’s mission to rid the world of credit card fees and today we are excited to finally turn on the Dwolla payment option.
With Dwolla, you simply connect a bank account so you can make payments through the system. The challenge up to this point was the fact that unless someone already had a Dwolla account created, it was nearly impossible for them to create a Dwolla account and make a quick payment during their first Seconds experience. Unfortunately, there were a number of steps – some even taking a few business days – to authorize the financial institution and finalization of the Dwolla account. It was basically a non-starter for our emerging payment platform.
As you can see, this new release leaves all that behind and puts Dwolla center stage in the Seconds payment experience, allowing someone the choice of quickly paying with their bank account using Dwolla in addition to a credit card.
Why is this so great? Merchants accepting Dwolla are charged at most $.25 per transactions over $10, and transactions under $10 carry no Dwolla transaction fee at all! Comparing this to the traditional 3% processing fee when dealing with credit cards and your looking at significant savings for merchants with each transaction.
We believe Dwolla has an incredible future and are excited to see where this will lead. More information about the Dwolla announcement is below.
Try it out now with GIVENATION, and give to IRD.org to help with Hurricane Sandy recovery.
What is Dwolla?
Dwolla is an online and mobile payment network that enables friends, families, and businesses to move money in a way that is safer, faster, and significantly more affordable than traditional payment options.
Using the Internet, Dwolla has designed a smarter way to structure payments and identify fraud. This allows the system to bypass credit cards, PayPal, and other payment types and, at the same time, offer the nation’s lowest cost payment network.
Since 2010, the Des Moines-based company has processed millions of transactions, becoming the nation’s newest and fastest growing payment network.
Pay as a guest:
Now, with Dwolla’s new guest checkout option, anyone can use Dwolla to make a one-time payment from their financial institution to an online merchant or marketplace.
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.
Benefits of guest checkout
| For consumers: |
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- 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!
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- Increased profit margins and savings over credit cards (flat 25 cent fee for transactions over $10, under $10 is free)
- Easily add Dwolla as another payment method
- Fluid offsite checkout experience
- Automatic PCI compliance
Using Guest Checkout vs. paying as a traditional Dwolla user
| Paying as a guest (for those without Dwolla a account): |
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- Free to pay: no hidden fees or costs to use
- Safer than writing checks
- Cardless and checkless
- Safe and secure Dwolla network technologies
- Save money with Dwolla price (see below)
- Privacy conscious (we do not sell your data!)
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Users with Dwolla account (“Paying as a guest” plus the following):
- Pay your friends and family through your social networks
- Lowest-cost (25 cents for payments over $10, free for transactions under $10)
- Faster payments and clearing dates
- Suite of features and tools
- Connect a bank account for simple depositing and withdrawing
- Use your phone to pay merchants and friends
- Minimum balance keeps your account full
- “Plug-and-pay” with numerous web third-party applications
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Frequently Asked Questions:
1. Does the merchant ever see my banking information
No. Aside from the fact that you’ve paid, Dwolla does not disclose or include sensitive financial information inside of transactions.
2. Is Dwolla safe?
All information is securely passed, encrypted, and stored in ways that meet or exceed industry standards. Dwolla does not sell your data or transactions with corporations or private parties. For more information, visit security and partnership.
3. Can I cancel my payment?
Yes, but the canceled payment must a.) be initiated by the merchant and b.) occur before the payment is processed.
4. How do Refunds and Disputes occur?
Dwolla defers to the refund policy of its merchants, but will assist in the dispute process whenever necessary. Learn more about Dwolla’s dispute process.
5. Why isn’t my total cheaper when I use Dwolla?
Not all merchants have opted to offer the Dwolla price discount. Dwolla believes it’s up to the merchants to decide what’s best for their business.
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