New Dwolla Features: Send Money to Non-Dwolla Users and Split Payments for Multiple Facilitators

January 26, 2013 10:45 am0 comments

 

Companies can now split payments for multiple facilitators and send money to non-Dwolla users.

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After the expansion of transaction limits from $10,000 to $50,000,000 for businesses in need of large transactions and the debut of bank to bank payments through their Guest Send API, Dwolla continues to make their payments network B2B (business to business) friendly. The Des Moines, Iowa-based tech startup rolled out two new feature updates yesterday after hearing feedback from its users.

Facilitator Fees

Business transactions aren’t always as simple as consumer or peer-to-peer transactions. Depending on the transaction, multiple companies, banks or other parties need to get paid for their participation in a deal. To accommodate these intermediaries or facilitators, Dwolla has a feature called Facilitator Fees which allows a percentage or flat rate amount removed from every transaction as a fee. Previously, only one facilitator could get paid. Now, Dwolla has updated its Facilitator Fees feature to allows for payments to be split multiple times to pay more than one facilitator.

Guest Send Payments

Previously, the new Guest Send transaction method was used to transfer funds to a Dwolla user from a non-Dwolla user’s bank account. Now, Dwolla has updated Guest Sent to allow money to be sent to anyone, whether they are or are not a Dwolla user. Dwolla will hold the money until the receiver claims it.

For more information on these two new features, check out the Dwolla blog.

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To contact the writer on this story: Philip Nowak in Chicago at philip.nowak@firmology.com. Please contact us if you’d like to submit a small business innovation story or small business tech startup, product or service.

Written by Philip Nowak

Philip Nowak is the founder of Firmology, a news and information media company focused on helping small businesses grow through small business technology and innovation. You can find Philip on Google+TwitterLinkedIn and Quora.

 

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