While it feels like we made the shift a lifetime ago, after only seven months as Trolley, we’re feeling pretty good about how things have gone so far:
- we’ve more than tripled our processing volume over the past year;
- we’ve scaled our team to 50+ outstanding employees;
- we are executing our roadmap every single day.
In May alone, our engineering team has delivered some major product updates that drive Trolley toward our goal of creating the payouts platform for the internet economy. A major dashboard rebrand, launching the powerful Invoices tool, and tax form upgrades are just a few enhancements we made in May that we want to celebrate.
So, keep reading to see what’s new with Trolley.
Updated Trolley-branded dashboard
The design of our Merchant Dashboard (dashboard.trolley.com) has been updated to reflect our brand better and provide a consistent experience across our website.
The experience won’t change; the workflows and buttons you know will stay in the same place. The only exception is that the sandbox account toggle will now be available within your avatar dropdown (see below).
Subscription-related and platform-sent emails will be sent from an @trolley.com email address starting June 30th. This includes merchant and recipient emails if white-label email settings aren’t enabled. Please email our support team ([email protected]) if you’d like to set those up.
Lastly, starting June 30th, the API and Widget will now be accessible via a trolley.com domain. But, for anyone who has previously integrated the paymentrails.com domain, don’t worry; you won’t need to reintegrate; the paymentrails.com domain will continue to work.
Line-by-line payout categorization and consolidation
As we’ve learned more about our customers’ needs and how they were handling payouts, we realized that the 1:1 nature of many payouts platforms wasn’t efficient or ideal in many cases.
In May we both announced Invoices, and told the story of how CD Baby was able to reduce transaction costs with this feature.
With Invoices, you can create multiple “line items,” each with its own categorization, that can be bundled together to make a single payment. That means that payouts can be more cost-effective, and Trolley has all the information you’ll need to create your 1099s & 1042s at the end of the year.
Read the help center article on Invoices to learn more about this powerful tool.
Payment minimums to reduce costs to merchants
When we send payments through our banking networks, they often have rules around small send amounts, and they can apply additional fees down the line on the receiving end. If the amount a merchant sends is too low to cover these fees, the banking partner or receiving bank can return the payment, generating additional costs and work for the merchant.
To help reduce overall costs and avoid the return of small payments, we implemented minimum amounts for bank transfers and wires. This means that any payment amounts less than the minimums listed below will not process. Specific minimums vary based on the region and banking networks involved, as outlined in our minimums help article.
Emailing from your root domain
To make sending white-label emails smoother and more reflective of each customer’s brand, we’ve enabled sending emails from your site’s root domain.
For example: This means the Piedpiper team can switch from a complicated subdomain, like support(at)test.piedpiper.info, to something a bit more customer-facing & logical, like support(at)piedpiper.info, hopefully giving their engineers a little less to manage while keeping sends on brand.
Deepening our tax offering
The powerful Trolley Tax toolkit empowers merchants & their recipients to maintain continuous compliance, as opposed to stressing while leading up to the dreaded end-of-year rush. We’re also constantly improving this aspect of our product:
- For customers using our Tax product, you can now export lists of W8s and W9s in CSV format, completely filterable to your needs.
- Tax forms have been completely translated for better accuracy and ease of use for our Spanish and French-speaking customers.
- For customers who need to pay withholdings on income paid to foreign persons (1042-S) with their own funds, Trolley now supports this via Box 11.
- Trolley’s W-8BEN-E & W-8BEN forms have been updated to match the latest versions of these documents effective April 1, 2022.
Check out these features via the Tax Center on the Trolley Dashboard.
Over the rest of 2022, we’re planning exciting updates, from continuing to help our customers navigate tax regulation changes in the US (1099-K) and into the EU (DAC7) to further improving payouts by broadening payout method availability and expanding our banking network.
Keep an eye on the Trolley blog to learn about all new features.
Want to know what else we’ve been working on? Check out Trolley’s June/July 2022 updates.