Founded by Ben Milne, Dwolla could mean the end of credit cards for online payments. The idea is to simply link your bank account to your Dwolla account and make your payments directly in cash. Best of all, Dwolla only takes 25 cents for each transaction regardless of the amount being processed.
Ben Milne: Ultimately we're trying to build the next Visa, not the next PayPal. We're building a human network based on how we think the future of payments will work. The current model needs to be blown up.
Dwolla started out of my old company. I owned a speaker manufacturing company and we sold everything directly through a website. I got really obsessed with interchange fees and how not to pay them. Every time a merchant gets paid with a credit card they have to give up a percentage. In my case, I was losing $55,000 a year to credit card companies. I felt like they were stealing from me -- I was getting paid and somebody was taking money out of my pocket.
So I thought, how do I get paid through a website without paying credit card fees? We pitched a bank, and amazingly enough they said, "We'll give it a shot."
That was three years ago, so we've been working on the project for a really long time. In December of last year we figured out how to legally do what we do.
|Never Not Find What You're Looking For Again|
|Something important: The Internet, a rant|
|CSS 3D Tilt: Bookmarklet Turns Pages Into 3D (Kinda)|
|Pirate Bay confident of trial win|
|If #Snowden is Lying, Why Does the US Want to Charge Him With Spying?|
|AI and Robotic Arms Remove Trash from Recycling|
|“Previously unknown plastic contamination in the tap water of cities around the world.”|
|“He says he tries to use Facebook as little as possible, and that his children aren’t allowed to use that shit.”|
|Ubuntu 17.10 Artful "What the Fuck" Aardvark|
|iotacons: Pixelated Art by Andy Rash|
|“Google is our modern man's God.”|
|“Millions of Americans are hassled to pay back money they don’t owe.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|How to Avoid Jury Duty|
|"100 of its members occupied the Opera Apple Store in Paris, demanding the company pay its taxes."|
|“The results of its People You May Know algorithm are anything but obvious.”|
|“End your life with a click.”|