Most people know about PayPal, but this can be an expensive way to make payments online and especially to receive money in return.
Dwolla aims to do things differently by charging just one small fee for every transaction you make. This fee is currently just twenty five cents, making this a very attractive alternative to use if you want to save money on making your payments.
This flat fee is the cornerstone of this new payment model, and it could result in many more people switching to it and making the most of the savings it represents. As you know if you use PayPal and many other similar payment services online, you are charged a flat fee every time you decide to make a transaction. But it doesn’t stop there.
These other services also charge you a small percentage of the amount you get. The bigger the amount, the more they shave off the top. But with Dwolla this doesn’t happen. Instead you pay them their twenty five cents and you take the rest of the money.
It is early days for this new service but it will be interesting to see how far it gets and how successful it could eventually be. You can follow Dwolla on Twitter if you wish, and at the time of writing they had 1,700+ followers. As word spreads about this new service we can expect it to grow more popular and be used by more people as well.