Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Dwolla reaches million-dollar milestone
DES MOINES, Iowa (7/25/11)--Dwolla, a company that combines social networks and location-based technologies with online and mobile payments, is now processing $1 million in transactions daily. Because Dwolla charges a flat 25-cent fee for transactions of all sizes, the milestone calculates to a potential user savings of $30,000 every 24 hours when compared with traditional payment networks, the company said. “We believe this represents a thought shift in the electronic payments industry,” said Dwolla founder Ben Milne. “Consumers and businesses alike are hungry for a new, secure cash option in an increasingly digitalized world.” Financial institutions can now integrate Dwolla’s FiSync to expedite the Dwolla sign-up process. FiSync, distributed by payments provider The Members Group (TMG), which is owned by Iowa credit unions, allows a credit union or community bank to connect the payment platform directly to the financial institution’s existing systems, co-branding Dwolla’s core technologies. Fifteen financial institutions with varying levels of integration have signed on for Dwolla, putting the network in a position to serve more than one million new account holders over the next 12 months, the company said. The most recent financial institution to sign on with Dwolla is $34 million asset Ace Community CU, Ames, Iowa. Members of Ace Community CU can access Dwolla through the credit union’s website. After signing up for a Dwolla account, members can make payment to or receive money from anyone with an e-mail address and their Facebook and Twitter friends.


RSS





print
News Now LiveWire
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
8 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
8 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
9 hours ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
10 hours ago
CCUA hosts @TheNASCUS college for #creditunion directors http://t.co/CftpSXDKWx
12 hours ago