Categories: FinanceNews

Dwolla Pivots Business Model From Proprietary Apps To Improved API Accessibility

Online payment users will know the service going by the name of Dwolla, even though it is not as big of a name as PayPal or Skrill. Dwolla started out as a very small project, but they have come a very long way over the past six years. The company decided to change their business model, as they are killing proprietary apps to focus on API services from now on.

A Positive Change For Dwolla’s Services

If there is one thing that most consumers are annoyed by, it is the usage of the proprietary app. Using apps for different social media platforms is annoying enough, but when financial companies go in the same direction, things only become more complicated.  Dwolla acknowledges this problem, as the team unveiled their new business plan.

Although the company has prided itself on shipping their own product and on the stability of their mobile app, things have come to a head in a different direction. The Dwolla platform will continue to exist, and integrating the payment functionality can be done through its API. In fact, the proprietary apps have become all but obsolete at this point.

To be more precise, all mobile apps will be removed from their respective app stores on December 7th. Additionally, some functionalities on and the mobile variant will be removed or changed. In addition, the payment option through Dwolla’s Forms and Hub pages will be suspended as well.

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What will remain behind serves as the core of the company’s business model. Their API is still there and available to third-party developers who look to integrate additional payment options. All of the paid features will remain unaffected as well, which is welcome news for their user base.

It is a noteworthy change for the payment processor, but it looks as though their business model has evolved to a state wherein this business switch is unavoidable. That is not a bad thing by any means, however, as API support is more important than any proprietary app development at this stage.

It will be interesting to see how this switch will affect Dwolla’s position in the payments industry moving forward. It is clear that there is a dire need for accessible services, as customers want a plethora of choices. More competition will lead to lower fees, all of which benefit the end user.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx

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