Dwolla launches Same Day ACH pilot programme in US to transfer funds through API

The pilot programme will offer platforms advanced access to Same Day ACH, allowing members to initiate credit transfers via Dwolla’s White Label API and providing faster funds availability to their users.

Money can be sent to customers’ existing bank accounts within the same business day. There is also no need for downloading app. The app is embed into existing business operations with automated payment processes and end-user experiences in 4 API endpoints.

Same Day ACH transfers are an economical alternative to traditionally expensive cards and wire transactions. Client can develop a scalable subscription model that will grow with customers.

Same Day ACH only supports credits, or funds initiated from the sender directly to receiver. This is an excellent way for payout platforms, the gig/sharing economies, marketplaces, payroll companies, and more to differentiate themselves, optimise business process, and improve their end-user experiences.

The Same Day ACH pilot will be made available to Dwolla White Label API partners only. The Pilot Program will run for a few months and will be released for broader market during Q4 of 2016.

Dwolla White Label is a Software as a Service platform for businesses and applications to communicate and work with US banking system. Developers and businesses can use White Label API to set up funds transfers between bank accounts, manage customers, verify bank account information.

For businesses interested in deploying Same Day ACH, the White Label API integration will not ask for additional, complex coding with integration.

All banks and credit unions accounts are required to accept Same Day Transfers as of Friday, September 23, 2016. With White Label, businesses create and onboard customers within their own native experience and they can add their own bank accounts. The first phase can only process credits. Debits, or the ability to originate a request for funds from another’s account, becomes available in September 2017.