Just how wouldn’t it feel to not need to pay any interchange charges? You realize, that 2-7% that you simply pay your charge card processor any time you operate a transaction. Well, Iowa based Dwolla can sort out that.
Founded in ’09 by Ben Milne and growing in an enormous rate, Dwolla is searching to get THE option to a conventional credit card merchant account.
I happened upon Dwolla this past year, but authored them off as the second payments start-up which may eventually fizzle out. It seems which i was wrong, that is great news for people.
What’s Dwolla and just how Do you use it?
Dwolla is really a cash-based payment network that actually works directly together with your lender. It enables people and/or business proprietors to transfer money into and from each other’s accounts either online or via a mobile phone. No debit or credit card needed. Rather of Mastercard or visa, think Dwolla.
Here’s an excellent video that explains things further…
And for the business proprietors, take a look one out…
There’s a lot of other useful info within their Support Center as well as on their Youtube funnel, consider getting acquainted. This option are destined to be around for some time.
Just How Much Does Dwolla Cost?
$ for just about any transaction under $10, and $.25 for just about any transaction over $10. That’s it.
For any $9 transaction the Dwolla price is $.
For any $100 transaction the Dwolla price is $.25.
For any $1000 transaction the Dwolla price is $.25.
First got it?
Who’s Using Dwolla?
This is actually the billion dollar question. Why? Because both sides (customer and merchant) need to be registered with Dwolla to ensure that these to exchange money. Much like Paypal, the procedure doesn’t work if a person individuals isn’t area of the Dwolla network.
By Feb, 14th 2012, Dwolla had 80,000 users. They have a lengthy approach to take before they end up being the go-to payment network, but they’re growing for a price which makes them a possible option for the business.
Btw, here’s a summary of all of the companies that presently accept Dwolla like a payment option. When are you with that list? 🙂
Is Dwolla Safe?
Since there isn’t any physical card associated with a Dwolla transaction, there is no card info to become stolen. That solves one area of the safety issue. Next, Dwolla never transfers, releases, captures or transcribes your financial information throughout a transaction. Go to the Security & Privacy page to find out more.
Note: There’s always some security risk when you are coping with payments. Money is a straightforward target. However the inescapable fact that the Dwolla transaction doesn’t involve a credit/bank card whatsoever, reduces that risk tremendously.
I’m always looking for alternative payment techniques that may either help you save money or assist you to process more proficiently. At the minimum, you need to add Dwolla being an additional payment option…similar to PayPal. There may not be that lots of people using Dwolla now, however the users list keeps growing daily, and also the savings you can observe from a couple of transactions is going to be worthwhile. Particularly if you sell higher price products.
Tell me if you would like me to keep you in touch with someone at Dwolla.