Via TNW: Move over PayPal, online payments just got social with Dwolla
Native Iowan Ben Milne thought the financial and banking industry needed a little disrupting. “I was sick of feeling like they were taking a percentage of my money without deserving it,” he explains over coffee in New York City. Milne teamed up with Shane Neuerberg (pictured below) to work on Dwolla, a portmanteau of sorts, combining the words dollar and web. They developed a P2P payment system with an extremely low cost exchange– no matter the amount, Dwolla only charges the recipient 25 cents per transaction. And the money sender has the option to assume this cost.
Cool concept. And the founders are from my home state of Iowa. Yeah! 🙂