The number of times a payment can be exchanged before it's worth $0 assuming the service exchanging the money carries a 3% + 30 cent fee is pretty predictable. If you start with $100 dollars in such a system you can exchange it 79 times before it's worth $0. With Dwolla's network, as of last week, money… Continue reading Generally obvious things about real-time and $0 transactions.
I posted this today and right after I had a bit of a... Moment. All #realtime. All new rails. All @Dwolla. Here's to ideas that become reality. A few years ago this would have never been possible. 10 years ago, it absolutely wouldn't have been possible. When I say, possible... I don't just mean real-time… Continue reading Realtime payments are actually real.
Nicole Cook, who runs Dwolla's government vertical, did an interview with ABC5 about Dwolla's most recent deal with the US Treasury. We've been working on this for a long time so it's fun to talk about and it's really fun to see the announcement make the rounds. American Banker / Bank Tech News: Federal Payments Website… Continue reading Dwolla, and working with the Government
I like to know what's going on so I keep a few things open on my computer at work at almost all times. While they aren't critical to operations they are incredibly helpful to me. One is an app from an internal hackathon that measures current Dwolla network performance. One is uptime.js that measures network availability.d
I love Dwolla hackathons. I was pretty bummed out to miss the last one but I got to hang around this time. This was one of my favorites. It's monitor that Jared built for the Dwolla API that shows round-trip transaction time, among other things. This shows round-trip transaction time at just under 1 second. It's… Continue reading Measuring the Dwolla network’s transaction speed
Dwolla, as a network... has no money. It's not a bank. DWolla does not hold money. The DWolla network talks to banks on behalf of members of the network. Your money, my money, is already virtualized. The first time I was explaining that concept to a bank they looked at me sideways and the room fell silent.… Continue reading Breaking down the Dwolla network to its core.
Businesses want to get paid faster and they don't want to pay a fortune to do it. That is not complicated. Most payments on the Dwolla network happen in real-time but that doesn't mean at some point the money doesn't go in or out of accounts that don't have real-time available. Every time that happens there is/was this… Continue reading Do Obvious Things.
The cost of a check to a small business is $7.15 per check.
When we went about writing down some of Dwolla's values I don't think I realized how important it was until after it was done. We just expanded our Des Moines office and across the multiple locations we realized it was finally time to name the conference rooms so people actually knew where the meetings were.… Continue reading Dwolla Conference Rooms – Dollars to Data
Just about a month ago I posted about bank payments on NPR. Today, I'm delighted to post a story the fine folks at Here and Now did about Dwolla.