Dwolla, a new online money transfer system, has expanded its proprietary service to residents and businesses of California.
After a successful launch in the State of Iowa that has added hundreds of business accounts, Dwolla has launched its service to the West Coast where consumers and businesses alike can perform electronic payment transfers for only twenty-five cents, no matter how small or large the amount of the transfer is. Unlike another electronic payment vendor, Dwolla doesn't charge the customer a percentage of the amount being transferred. Instead, Dwolla relies on a proprietary payment platform that allows it to be free of unnecessary bank charges and fees associated with a competing payment platform.
The service stands apart from current leading online payment services with three distinct advantages including: cost, search and archive benefits. Dwolla is the first peer to peer payment platform tailored for both consumer and business use. The low cost of the service makes online transactions viable for business to business transactions, which are currently left out of large online transactions. Many online banking and transfer services fail to provide an effective way to search previous transactions; with Dwolla's advanced search tools it makes it exceptionally easy for users to easily find specific transactions, minimizing the administrative cost of finding transactions. The archive advantage allows business users to effortlessly attach invoices with payment requests and the ability to archive these images with payments resulting in no more lost transactions or wondering if you remembered to pay that invoice.
"We're excited to finally offer Dwolla to the residents and businesses in the State of California who have been very eager to use a new payment transfer system," said Ben Milne, CEO of Dwolla. "Dwolla is a great product for businesses due to its ease of use and low cost. It will significantly impact how consumers and businesses electronically transfer money moving forward."
The service is a game-changer for the industry, allowing options that didn't exist before for B2B transactions. It appeals to businesses and consumers alike by offering a superior level of service while minimizing cost.
"I couldn't wait for Dwolla to make its way to California," remarked California resident, Alex Ulrich. "The service is a great alternative for existing online payment networks, it's easy to use and best of all it comes at a low cost."
"We started using Dwolla for our online payment network and have already reduced our operating costs significantly," said Nick Kremer of Nine Dot Systems. "Every day we see more and more businesses jumping onboard with the Dwolla network."