Don’t think you have a choice? Then you haven’t heard of Dwolla. U.S. Companies paid $66 billion in credit card fees in 2012. That bugs Ben Milne, Dwolla’s founder. That’s why he founded Dwolla. And is company his on track this year to process $1 billion for 250,000 consumers and businesses this year. The charge? A flat 25 cents per transaction and FREE for transactions under $10.00!
The company pitch — you can pay your friends not only by email but also Facebook, LinkedIn and Twitter; you obviously eliminate paper and if you are a company you increase profits…. After all 25 cents per transaction is a tiny fraction of what credit card companies charge.
According to MIT Technology Review Magazine Dwolla is not only a challenger to PayPal but also the long established credit card companies like Visa. The service is available as Android and iPhone apps and also on the web.
Dwolla’s mission statement is “Allow anyone [or anything] connected to the internet to move money quickly, safely & at the lowest cost possible.” And what is really cool is that they have a new store front where businesses using their service are featured. Their website is worth a visit and their service is worth a try. Visit www.dwolla.com
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