Dwolla is a US-based online payment system that allows individuals and businesses to send and receive money electronically. The company was founded in 2008 and is headquartered in Des Moines, Iowa. Dwolla’s platform allows for the transfer of funds between bank accounts via Automated Clearing House (ACH) network, which is a system used for electronic financial transactions in the United States. This means that funds are transferred directly between bank accounts, bypassing the need for credit or debit cards. Dwolla charges a flat fee of $0.25 for transactions over $10, and transactions under $10 are free. It also offers a white-label version of its platform called Dwolla Flex, which allows other businesses to build their own custom payments experience on top of Dwolla’s technology stack.
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