It seems just a few days ago we blogged about how selling online is getting easier and easier, and now here comes Dwolla – a new comer to online payments who aims to offer yet another option to buying and selling online – allowing people to pay by cash straight from their bank accounts. Dwolla transactions fees are capped at 25 cents per transaction, which is lower than PayPal. And users are able to send money to their social networking contacts on Twitter and Facebook. Merchants are able to accept payments without adding extra hardware, and by using Dwolla’s system they don’t have to store credit card information, which limits fraud possibilities. Further more with Dwolla’s Spots mobile payment service, users can pay for offline goods without using credit or physical cash.
All in all Dwolla seems to be a great small business solution. In-fact consider this: If your clients pay with Dwolla you don’t have to pay the interchange fee. By rolling this savings over to your customers you can offer them better pricing, and get a leg-up on your competitors. Dwolla has published a PDF showcasing some of the features and benefits of Dwolla for business. If you’re looking around for new solutions to accepting payments either online or offline and do not want a traditional merchant account – definitely give Dwolla a look at http://www.dwolla.org.