Des Moines, Iowa-based payments innovator Dwolla announced on Oct. 22 a rollout of a new credit product that will allow approved customers to access credit and spend it online at a network of merchants.
"Credit is not new, but providing it on a real-time network that replaces interchange fees and positions credit to evolve is, and that's what Dwolla Credit does," said Ben Milne, CEO and founder of Dwolla, in a prepared statement. "Dwolla Credit places millions of dollars in immediate buying power right at the fingertips of a network at a transaction cost that's next to nothing and in a way that's as simple as logging into your email."
Traditional interchange charges are replaced in Dwolla Credit purchases with a flat 25-cent fee, and transactions under $10 are free.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
