Building new infrastructure for digital payments may not sound sexy, but it’s an area that’s ripe for innovation. The legacy payments networks in existence today are bogged down with outdated technology, slowing progress. Des Moines-based Dwolla decided that the way to innovate in payments was to essentially blow up the outdated infrastructure entirely and start over by building out… → Read More
Fred Wilson, legendary New York venture capitalist and partner at Union Square Ventures, is the latest VC to highlight his interest in startups that help move money, “an area that is still very much up for grabs,” in his opinion. “Money is information, like bits,” he said today, giving currency a spin that puts it in a continuum with the many blogging and content companies that his firm has… → Read More
Online and mobile digital cash network Dwolla is breaking down one of the barriers to entry to using its service with today’s introduction of a new “guest checkout” feature for online merchants. The option will allow non-Dwolla users to pay with Dwolla on e-commerce websites, possibly even getting a discount on the item or service being purchased in the process. → Read More
Following a recent partnership with mFoundry which saw digital cash network Dwolla introducing more tools for banking partners, the startup is on the move again with the launch of a new service designed to encourage adoption among business customers. Called “MassPay,” Dwolla’s latest addition offers businesses a faster and simpler alternative to check-writing and wire transfers, by allowing them… → Read More
Online and mobile digital cash network Dwolla is partnering with mobile banking and payments service provider mFoundry, the companies are announcing today at the BAI conference in Washington, D.C. This is Dwolla’s first publicly announced partnership with a financial service provider, and the deal opens its service up to mFoundry’s 800+ banks and credit unions using its cloud banking platform… → Read More
Dwolla, the web-based payments platform, and Crowdtilt, the web-based crowdfunding platform, are formalizing Reddit’s capacity to tap into the power of the Internet as a force for good with today’s introduction of reddit Donate and reddit.Crowdtilt.com. To be clear, neither of these are official reddit products, but were built in conjunction with reddit for use by its community leaders – or in… → Read More
An API is a “must have” feature for many tech startus. Mailchimp CEO Ben Chestnut went so far as to write that the company’s API is “probably the best marketing we’ve ever done.” But for some companies an API is more than just marketing, it’s a core part of the business. As more business shifts online, non-technical business people will need to make strategic decisions about technology… → Read More
Mobile payments platform Dwolla has the potential to disrupt how money moves in the new, digital economy. It’s an idea of how a payments network should look, if one had been built today, as opposed to tacking on digital payments to the legacy system that is the current credit card network. But there has been one big problem for end users of Dwolla – no one had any clue where they could actually… → Read More
A major milestone for disruptive payments platform Dwolla: the company has just switched on FiSync, its real-time money transfer system which aims to replace the outdated – and much slower – ACH process. ACH, or Automated Clearing House, is the traditional means for making electronic payments here in the United States. A 40-year old system, ACH enables money to move from Bank A to Bank B, but the… → Read More
Disruptive payments network Dwolla confirmed today it has raised $5 million in Series B financing in a round led by Union Square Ventures. Also participating in the round are Village Ventures, Thrive Capital, Artists and Instigators and Paige Craig of Betterworks. As a part of the deal, Albert Wenger of Union Square Ventures will join Dwolla’s board.
The company says that additional funding… → Read More
Today, online and mobile payments platform Dwolla is launching what may be one of its biggest features yet: instant access to cash. Via the new opt-in setting called “Dwolla Instant,” users will be able to immediately deposit and send cash without the usual wait times associated with the mobile payment platform – typically a few days. → Read More
Online and mobile payment service Dwolla has announced that all transactions under $10 will have no fee from now on. This is of course great news for small businesses and merchants whose average transaction is below that.
The company has a history of experimentation, and the payments space is certainly ripe for disruption from any number of angles, but it’s still not clear what has enabled this… → Read More
Payment platform Dwolla is celebrating an important milestone this week; Hitting almost 1 million a week in payments on the service. This is rapid growth, as six months ago the startup was completing $50K in transactions a week. Only three months ago, it hit the $1 million transactions a month mark.
Co-founder Ben Milne says that this is notable because it was only a little over a year ago that… → Read More
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