Claims to offer a cheaper alternative to cards by allowing payment by mobile, to contacts based on social network identification and using the ACH for Fast Fund Transfer. Link to external site : Website for Dwolla FiSync Money Transfers using ACH USA |  |
| Brand | |
| Launched in | |
| Status |
Active Register/Log In |
| Launch |
2011 Register/Log In |
| Importance |
Leader Register/Log In |
| Traction | |
| Evaluation |
The technology requires a network effect — for transfers to take place, enough banks must agree to use FiSync, properly integrate it into their core banking systems and accordingly market the capability to consumers Register/Log In |
| Account Type |
Stored Value Register/Log In |
| Business Model |
Free for bank transfer, Consumer Fee for Instant Cash Upgrade to Bronze |
| Class |
| Send | Services | Receive | ||||
|---|---|---|---|---|---|---|
 Mobile |
 Card |
 |
 DMT  MP  Social |
|
Card |
Mobile |
| Model |
non-bank based Upgrade to Bronze |
| Who Leads? |
third party led Upgrade to Bronze |
| Reach |
National Upgrade to Bronze |
| Active Users |
70,000 Upgrade to Bronze |
| Registered Users |
70,000 Upgrade to Bronze |
| Potential Mobile Market (m) |
337.899 Upgrade to Bronze |
| Regulations |
| Persona | |
| Purpose | |
| Active Services | |
| Card Type |
None Register/Log In |
| ServicesDescription |
Fund the Dwolla account by linking it to a bank account and transferring money to Dwolla. pay individuals, via an e-mail, or by Twitter or Facebook; the recipient gets notification that you have sent the money Upgrade to Bronze |
| Channels | |
| Payment Instruments | |
| Cash I/O Description | |
| Cash I/O No Of Locations | |
| Handsets | |
| Technologies | |
| Interoperability |
Must register for an account at Dwolla to accept the money. Register/Log In |
| RegistrationProcess |
Users sign up online for a Dwolla account, which involves entering personal information like date of birth and Social Security number Register/Log In |
| Main Segment | Social |
| Segment Description |
Pay onlineBenefitWith Dwolla, none of your information is transferred/released/captured/transcribed during a transaction. Furthermore, our mobile and online payments are layered with security features that not even banks or the credit card industries have. Simply put, we allow you to move your money the way you want to without exposing or sharing your personal information to a third party.-Send and receive money with your cell phone
-Instantly share money with friends, family and businesses through social networks
-Pay for goods or services based on your current location from within your mobile phone
-No more ATM inconveniences (finding one and then paying $5 fees seems a bit outrageous to us)
-Enjoy retail-sponsored discounts for using Dwolla
-Set up automatic payment features for things, like rent or utilities
-Enjoy our rapidly increasing depth of technological services
-Easily and cheaply send money all over the United States for only 25 cents
-Transparently track and report your payments with personalized and detailed statements FEES: Reciver pays 25 cents; However Sender may pay instead |