Review on Dwolla by David Olayide

Name: Dwolla
Item: Dwolla
Rating: 3

February 13, 2021

The Dwolla Processing System

Dwolla is an ACH payment processor platform based in Iowa USA, founded and established in 2008. Ever since the set up has kept evolving and changing it’s model and services to eventually become what it is today. Dwolla does not offer credit or debit card payment options and this sets it apart from the common payment processor systems and merchant account providers we see all around.

The information I get about Dwolla coupled with a few other factors all point to the fact that Dwolla is mostly designed to work very big enterprises and business models that perform many transactions or multiple transfers. The pricing of the company’s plan is also not a price that just any business can afford. When I checked last, the cheapest priced plan was at $2000 per month. This is a very high price to pay but like I said only big businesses who handle a large volume of transaction, can really benefit from the company.

Some of the features offered by Dwolla allows you to make your own payment platform on your website, with an API library and also access to a developer. However Dwolla does not leave small scale businesses in the dust. There are pay-as-you-go plans which are more affordable and have no monthly fees requirement. There is a 0.5% charge on ACH transaction processing, and a $5 charge per transaction. This plan is much cheaper but it also has restrictions such as the frequency and the number of transactions you can make which is limited.
The  Dwolla platform boasts of a high scalability with millions of people using Dwolla's reliable API. The platform is also developer friendly.

By eliminating the use of credit/debit cards Dwolla has created a global system that is free to use, without delays and exorbitant charges or fraud. Generally speaking, Dwolla is a good platform. However you will have to decide for yourself self if the plans suit you personally.
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