Dwolla Dwelivers Another New Payment Gateway
Cheap Rates. Attractive Interface. Easy to Install. For a while now, anyone looking to open an e-commerce site has had to pick two out of those three when deciding what payment gateway to install on their site. Recently, a new entry to the market, Stripe, has started to shake things up. Affordable, graphically flexible, and clearly documented, it has also begun to be featured in WordPress plugins and included in shopping cart software.
Much to the agony and irritation of hassled and harried WordPress developers around the world, though, there is yet another interesting new payment processor that they might have to start working with: Dwolla.
What is Dwolla?
Dwolla aims to eliminate the need for cash and debit cards and have customers route all of their transactions through their systems (and sell hoodies, apparently). That’s right, every time you hand over money – from paying for goods online and in person to transfering money to friends, family, and acquaintances – Dwolla would like to be the means of transfer. And all you need is your Dwolla PIN to move money with them, whether online or with your smart phone.
The fee structure of Dwolla is relatively simple. Any transaction below USD$10 is free. Anything above that number costs USD$0.25. Yup, just two bits. If you are wondering how that stacks up against other payment gateways, check out this comparison graphic that Dwolla provides.
A Word About Privacy
Like with any payment processor, in order to be fully verified, you can expect to have to give Dwolla your name, email address, phone number, bank account details, and social security number/tax identification number. To get the most out of Dwolla, though, you have to completely integrate it with your social network. That means handing over your Facebook friends, Twitter followers, Foursquare check-ins, and Linkedin contacts (and that’s just to start with!). This is optional, and you can continue to to process payments without letting them access your network, but you will not be able to take full advantage of all of the advertised functions.
Using It With WordPress
A little late to the game in terms of WordPress integration, there are nevertheless two good options for getting Dwolla on your site:
- Install WooThemes‘ Dwolla Extension for WooCommerce, the opensource WordPress e-commerce plugin, for use as a payment gateway.
- Install the WordPress Dwolla Payment Button Plugin, and create the Dwolla Payment Button, to install a Donations/Payment button on your WordPress site.
To get more information on how to install the Payment Button, check out this demonstration video from Dwolla itself (if it is soundless and the guy is racing through it as quickly as humanly possible, your machine is working just fine):