Dwolla FiSync Money Transfers using ACH USA

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
Dwolla FiSync Money Transfers using ACH USA
Brand
Launched in
Status
Launch
Importance
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
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Account Type
Stored Value
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Business Model
Free for bank transfer, Consumer Fee for Instant Cash
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Class
Send Services Receive

Mobile


Card

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DMT

MP

Social
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Card


Mobile

Model
non-bank based
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Who Leads?
third party led
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Reach
Active Users
Registered Users
Potential Mobile Market (m)
Regulations
Persona
Purpose
Active Services
Card Type
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
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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.
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RegistrationProcess
Users sign up online for a Dwolla account, which involves entering personal information like date of birth and Social Security number
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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

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