Simplify Property Management Payments with Pay by Bank

Integrating payments presents challenges for property management platforms through high costs, poor user experiences and complex system integration. Dwolla's unified API offers a solution with lower-cost pay-by-bank payments, customizable UX and simplified integration.

Complex Payments Cost More Than You Think

Property management platforms frequently encounter challenges when integrating payment functionalities, impacting efficiency, financial health and relationships with owners and tenants.

1. Money Movement Challenges
   Disjointed payment processes require customers to go off-platform and do not have the ability to verify bank account information before pulling money onto their platform or pushing it out to a user. Building an in-house solution to fix these problems is difficult and expensive due to the complex nature of the U.S. payments system.

2. High Transaction Costs
   Elevated transaction fees diminish profitability. Passing these fees to property managers can reduce platform competitiveness, while charging tenants can cause dissatisfaction.

3. Poor User Experiences
   Poor UX discourages the adoption of online payments and prompts reliance on less efficient manual methods. Payment errors and delays become more frequent, increasing administrative burdens.

4. Integration Challenges with Existing Systems
   Ensuring accurate data synchronization and reconciliation across disparate systems is difficult, and poor API documentation and limitations further complicate the integration process and increase development risks.

"If you are wanting a really good user experience and not wanting to send your users to a third party to connect a bank account, I don’t think you have a choice. Dwolla is right up there in terms of an API, it’s probably the best solution we’ve found in terms of facilitating payments."
Real Estate Company Chief Technology Officer

The Benefits of Dwolla's Pay-by-Bank Solution

Dwolla's API-powered automation helps reduce costs, improve cash flow, and provide real-time payment tracking while offering access to instant payment networks for faster, more efficient payouts.

Improved User Experience

Dwolla’s flexible solution allows property management platforms to fit payments into the current flows of their platform for a great user experience. This helps accelerate adoption of digital payment methods and eliminate the need for time-consuming and error-prone manual processes.

• Easily integrate payments into your current platform and maintain control of the branding and tenant and landlord experiences with Dwolla’s white-label solution.
• Perform the whole payment process in-platform. This speeds up the payment, simplifies the customer experience and decreases the burden on your customer support and operations teams.

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Reduce Costs and Improve Profitability

Dwolla’s unified API provides access to automated pay-by-bank payments that can offer lower transaction fees, increasing profitability and improving the property manager and tenant user experience.

• Connect to pay-by-bank payment rails including cost-effective ACH and faster payment options, such as Same Day ACH and instant payments via the RTP® network and FedNow® Service.
• Allow property managers to offer automated recurring payments to their tenants, which can decrease the number of missed/late payments and improve experiences for both parties.

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Simplified Integration

Dwolla's ACH API simplifies the integration of payment functionality into your property management platform. By connecting to a single provider, you abstract away the complexities of multiple integrations, reducing development time and costs.

• Integrate pay-by-bank payments and Open Banking Services, including instant account verification and real-time balance checks, through a single, well-documented platform.
• Leverage comprehensive developer docs, a fully simulated sandbox environment and dedicated support to accelerate integration.
• Correlation IDs track payments end to end, connect payments initiated through Dwolla to payment information in other systems and can be used to automatically close out open accounts receivable.

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Examples of How the Money Moves

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Rent Collection from Tenants

Tenants can directly debit their bank accounts for rent payments via pay-by-bank transfers. This can be set up as recurring automated payments for timely collection.

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Security Deposit Payments

Tenants can use pay-by-bank transfers for initial security deposits, providing a secure and auditable payment method.

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Disbursement of Funds to Property Owners

Property management companies can use pay by bank to disburse rental income and other funds directly to property owners' bank accounts.

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Direct Payments from Tenants to Landlords

Payments can go directly from tenants to landlords without involving the property management platform in the payment flow, helping to reduce regulatory and compliance risk.

Automate your payments in as little as ten days.

Dwolla's full-service approach replaces legacy payments technology with a single solution, improving security, data visibility and the customer experience.