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Payments 2.0
Digital wallet, Mobile payments, Contactless payments, NFC payments, Mobile wallet, Mobile POS, Bill payments, Bitcoin, Virtual currency
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Dwolla kills support for bitcoin

Dwolla kills support for bitcoin | Payments 2.0 | Scoop.it

Payments firm Dwolla is severing its ties with bitcoin exchanges and services, cutting off a major route for moving funds between the virtual currency and its fiat cousins...

In May Dwolla was served with a court order by the US Department of Homeland Security...

Last year, another exchange, TradeHill, filed a lawsuit against Dwolla [which] prompted anger among crypto-currency enthusiasts".

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Dwolla raises $16.5M to revolutionize mobile and online payments through direct bank transfers [MUST READ]

Dwolla raises $16.5M to revolutionize mobile and online payments through direct bank transfers [MUST READ] | Payments 2.0 | Scoop.it

Online payment network Dwolla has pulled in$16.5 million in a third funding round led by elite venture capital firm Andreessen Horowitz. [...] Dwolla formed a partnership with the state of Iowa last year to process taxes.  The company also introduced FiSync, which it claims is the nation’s first  real-time payment network for financial institutions and tackles on some of the  problems of the Automated Clearing House (ACH) transfer system. Dwolla also made  an “800 bank and credit unions partnership” with mFoundry. [...]

Therese Torris's insight:

Great stuff... Always found Dwolla most innovative as it by-passed the credit card payment system and charges less than any other payment system around. But I was worried that, with $6M before this round, it was underfunded. Not that raising funds is a virtue, but there was a huge imbalance with competitors like Square ($341 M).

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Dwolla launches payment over Twitter to rival Chirpify

Dwolla launches payment over Twitter to rival Chirpify | Payments 2.0 | Scoop.it
TNW: Online person-to-person payments service Dwolla has put together and released a simple method to send money to others on Twitter, requiring only their username, the dollar amount, and ...
Therese Torris's insight:

Dwolla is on an innovation spree. Well done!

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Dwolla Launches Guest Checkout Option For Merchants, Allows Shoppers To Pay With Dwolla Without Signing Up | TechCrunch

Dwolla Launches Guest Checkout Option For Merchants, Allows Shoppers To Pay With Dwolla Without Signing Up | TechCrunch | Payments 2.0 | Scoop.it

TechCrunch: 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.

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Direct bank transfer payment Dwolla operates behind the scene

Direct bank transfer payment Dwolla operates behind the scene | Payments 2.0 | Scoop.it

Fast Company: [...] anybody can use [Dowolla's] service to transfer money directly from their bank account to others without setting up a Dwolla account. And no longer do they need to launch a Dwolla app in order to pay at a Dwolla merchant’s offline store. ...

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Dwolla teams up with Reddit and Stripe to boost donations for non-profits

Dwolla teams up with Reddit and Stripe to boost donations for non-profits | Payments 2.0 | Scoop.it

New US payment system Dwolla has launched Reddit Donate, a new initiative to get the Reddit community donating to 12 selected non-profits usin donation processor Stripe

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Dwolla Democratizing APIs With New Non-Technical Portal | TechCrunch

Dwolla Democratizing APIs With New Non-Technical Portal | TechCrunch | Payments 2.0 | Scoop.it

[...] Unlike PayPal, Dwolla routes around the traditional financial infrastructure [of credit cards]. As a result, the company offers a transactions at a lower cost than credit card processing companies. In order to accept Dwolla payments online retailers need to integrate the service into their websites. [...]... Last week the company relaunched its developers portal to make it more accessible to non-technical people. It’s still at developers.dwolla.com, but it’s now called the Integration Portal. “We kept calling it a ‘dev site’ but we realized that if we really wanted to democratize the site we’d have to call it something else,” says Jordan Lampe, director of communications at Dwolla...

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With Places, Payments Platform Dwolla Finally Lists Where It Works, Lets You Request Merchant Support

With Places, Payments Platform Dwolla Finally Lists Where It Works, Lets You Request Merchant Support | Payments 2.0 | Scoop.it

Mobile payments platform Dwolla has the potential to disrupt how money moves in the new, digital economy... with the launch of Dwolla “Places” [Dwolla gives users] a directory of its merchant partners, which includes 15,000 brick-and-mortar stores and online sellers....

 

Comment: Places has interesting social features and will soon be available on mobile .

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Ashton Kutcher invests in flat fee payment tech startup Dwolla

Ashton Kutcher invests in flat fee payment tech startup Dwolla | Payments 2.0 | Scoop.it

"Kutcher's company, A-Grade Investments, has invested in about 40 tech startups and tech companies, including popular services such as Foursquare, Zaarly and Skype. [ ...] Dwolla's founder, Mr Ben Milne, said he talks with Kutcher via Skype every month or so. Mr Milne says Kutcher's insights have "shown up in the product already in a million different ways"."

 

Note: To watch the video of the announcement by Kutcher and Milne at Silicon Prairie check this link: http://www.siliconprairienews.com/2012/04/prairiecast-live-at-1-p-m-tuesday-with-ben-milne-and-danny-schreiber

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Dwolla raises $5m Series B round led by Union Square Ventures (Video)

Dwolla raises $5m Series B round led by Union Square Ventures (Video) | Payments 2.0 | Scoop.it

"Dwolla, an online and mobile payments network based in Des Moines, announced today it raised $5 million in a series B round led by Union Square Ventures of New York, with participation from Village Ventures and Thrive Capital, also of New York,..."

 

Comment: A total of $ 6.3 M capital raised is not much to create an ecosystem and to compete with the likes of Square ($168 M  funding) and Google Wallet ! But good luck to the team and let's hope the direct bank to bank mobile payment proposition will attract partners

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Mobile payments showdown: PayPal, Dwolla, Square and Clover reviewed by TheNextWeb

Mobile payments showdown: PayPal, Dwolla, Square and Clover reviewed by TheNextWeb | Payments 2.0 | Scoop.it

"With more phones and more options opening every day for mobile and peer to peer payments, the waters are getting a bit muddied. "

 

Comment: A down-to-earth comparison of leading US mobile payment systems with plus and minuses viewed from a consumer point of view

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Dwolla Is Moving $350 Million And Wants To Completely Kill Credit Cards

Dwolla Is Moving $350 Million And Wants To Completely Kill Credit Cards | Payments 2.0 | Scoop.it

Dwolla was founded by 28-year-old Ben Milne; it's an innovative online payment system that sidesteps credit cards completely.

 

Ben Milne (28 year old): Ultimately we're trying to build the next Visa, not the next PayPal...  I thought, how do I get paid through a website without paying credit card fees? We pitched a bank, and amazingly enough they said, "We'll give it a shot."That was three years ago, so we've been working on the project for a really long time. In December of last year we figured out how to legally do what we do.

 

 

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Ben Milne, Dwolla's founder, makes the MIT list of Innovators Under 35

Ben Milne, Dwolla's founder,  makes the MIT list of Innovators Under 35 | Payments 2.0 | Scoop.it

Digital payment systems dreamed up in the Web era still piggyback on credit card networks. There ought to be a faster and cheaper way.

Therese Torris's insight:

He's only 30 now. Dwolla was launched in 2008.

Well deserved! Congratulations.

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The state of Iowa lets tax payers pay with Dwolla

The state of Iowa lets tax payers pay with Dwolla | Payments 2.0 | Scoop.it
The US state of Iowa is set to let residents pay some of their taxes using Dwolla, a local digital transactions start up.
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PayNearMe keeps cash alive and well

PayNearMe keeps cash alive and well | Payments 2.0 | Scoop.it
Therese Torris's insight:

Self-serving guest post by the CEO of PayNearMe. Still good food for thought: Cash transactions may not be decreasing.  

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Dwolla now lets you pay without signing up and charges market's lowest 25¢ fees

Dwolla now lets you pay without signing up and charges market's lowest 25¢ fees | Payments 2.0 | Scoop.it

Therese's comment: Because it bypasses credit cards and incumbent payment processors, Dwolla has always been the most disruptive proposition in the US payment's market. But it was quite low profile until recently.

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Dwolla raises the bar on mass payments : let you pay 2,000 people at once

Dwolla raises the bar on mass payments : let you pay 2,000 people at once | Payments 2.0 | Scoop.it

TNW: Dwolla today announced that it is taking its fight with PayPal to the next level with a feature that lets you pay multiple people at once. PayPal has Mass Payment (pay up to 250 people ...

 

Therese's comment: picture from TNW (credit: Christa Richert) is a bit absurd given that Dwolla is only available in the US... No doubt that Dwolla with its low flat fee is much cheaper than PayPal. But I can't remember when was the last time I had to make 2,000 payments. Am I missing something?

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Two new(ish) reports on new payments systems by Javelin Research

August 2012: Account‐to‐account (A2A) and person‐to‐person (P2P) transfers: Ermerging players pose threat to PayPal

Account‐to‐account (A2A) and person‐to‐person (P2P) transfers have greatly expanded in functionality in recent years, enabling consumers to complete over $195 billion in domestic transfers in the past year. P2P transfers [...] moved more aggressively toward delivery through electronic channels [...] potential to provide important revenue for FIs and vendors alike.

https://www.javelinstrategy.com/brochure/259

 

July 1012: VIRTUAL CURRENCIES: A Global Gamble

[...] With the ability to cross channels and support online, mobile, and POS commerce, virtual currencies can be readily extended to a variety of environments. But, in the process, these currencies and providers — including Bitcoin, Facebook Credits, Ven, zCoins, World of Warcraft Gold, and PlaySpan — have garnered the attention of regulators, crime enforcement, and traditional payments service providers as each struggles to understand these currencies’ potential implications. This report details some of the issues and threats surrounding this emerging payments market.

https://www.javelinstrategy.com/brochure/258

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The Best Mobile Payments App - ReadWriteWeb

The Best Mobile Payments App - ReadWriteWeb | Payments 2.0 | Scoop.it

Summary: One of the many useful articles summarizing the competing mobile payment options that are vying for adoption in the US market: Square, PayPal, Dwolla, LevelUp, Google Wallet, Intuit GoPayment, ISIS, Veriphone, Jumio, Card.io.. als mentions two companies I was not familiar with:

 

- Erply:  Erply's POS solution includes facial recognition that allows sales staff to identify and checkout PayPal shoppers without any card swipers or paper receipts http://erply.com/

- Mobeam: Mobeam’s patented technology uses light to bridge the redemption gap between mobile devices and retail point-of-sale http://www.mobeam.com/ ;

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Quid Puts FinovateSpring Companies through its Big Data Algorithm - Finovate

Quid Puts FinovateSpring Companies through its Big Data Algorithm - Finovate | Payments 2.0 | Scoop.it

Summary: San Francisco-based data analytics company QUID recently compared the FinovateSpring 2012 presenters against its database of 800 financial services companies. The following were determined to be the most unique and valuable...:

1. DeviceFidelity: operator and device-independent solutions for mobile apps

2. Silver Tail Systems: web intelligence for security

3. Edo Interactive: connects advertising with card data

4. Dwolla: mobile and online direct transfer payments

5. On Deck Capital: technology-assisted lending of working capital to SMBs

6. BillGuard: free personal finance security service

7. Klarna: escrow payment service for online shopping

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Payments aggregator InspirePay embeds alternative payments Dwolla, PayPal, Stripe

Payments aggregator InspirePay embeds alternative payments Dwolla, PayPal, Stripe | Payments 2.0 | Scoop.it

US-based startup company InspirePay has added online, mobile and social payments platform provider Dwolla, Pyapal, Stripe...

 

Note: Visit InspirePay's website: http://inspirepay.com/

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7 Great Alternatives to PayPal - TheStreet.com

7 Great Alternatives to PayPal - TheStreet.com | Payments 2.0 | Scoop.it

"PayPal ... is often the go-to method of cash-free person-to-person (P2P) payments. There's just one problem: A lot of people really hate it."

 

Comment: Good review of alternative payment systems, mobile and non mobile, detailing pluses and minuses of Serve, Zashpay, WePay, Square, Dwolla and Clover.

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WV United FCU Offering Both Square and Dwolla Payments (NetBanker)

WV United FCU Offering Both Square and Dwolla Payments (NetBanker) | Payments 2.0 | Scoop.it

US Credit Union WV United is one of the first bank to offer both Square and Dwolla

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