Dwolla Unveils Streamlined Checkout Process
June 19, 2014
Des Moines, Iowa-based online payment provider Dwolla yesterday unveiled a new service enabling online payments to a person or business direct from a bank account without requiring an existing Dwolla account. The company essentially has streamlined its sign up process so it can be accomplished from the Website of the merchant to which a user is making a payment the first time they use Dwolla Direct. The verification of bank account information for many users also is simplified by being able to click on a bank choice instead of remembering a routing or account number. Customer authentication is handled by a third party.
“Using Dwolla Direct is like putting a username and password on your checkbook,” wrote Jordan Lampe, Dwolla’s director of communications and policy affairs, on the company’s blog. “Your sensitive account information is never sent to the receiver of your payment, and you have a digital receipt of the transaction. No more checks lost in the mail, no more exposure of your personal financial network. Plus, you can reuse your username and password to send payments any time.”
According to published reports, while the new service enables sending money without requiring an account, recipients must still have a full Dwolla account before receiving funds.