Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Dwolla eliminates 25-cent fee for payments under 10
DES MOINES, Iowa (12/2/11)--Dwolla, an online, location-based, social and mobile payment platform supported by The Members Group (TMG), Thursday announced it will no longer charge its 25-cent transaction fee for payments of $10 and below.

TMG is a wholly owned subsidiary of the Affiliates Management Co., which is owned by Iowa credit unions and their members.

Removal of the fee should be favorably received among merchants who conduct small-ticket transactions, and in in-app purchases found in many mobile applications, Dwolla said.

"To date, Dwolla merchants have been willing to pay the quarter, even on micropayments, because they recognized the unique value," said Brian Day, Dwolla product leader for TMG. "Not only are retailers attracted to the 'wow' factor of mobile payments acceptance, they see the buzz-generating potential of Dwolla's social media interaction. A customer buys a coffee with Dwolla and instantly 150 of his Facebook friends are exposed to the name of the coffee shop."

No changes in product or service accompany Dwolla's drop of the fee, so merchants will continue to receive the same benefits--now at no cost on small transactions.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
14 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
15 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
15 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
16 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
17 hours ago