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In the world linked to innovative technologies and Internet more and more people turn away from using traditional payment methods and move to alternative to PayPal solutions, which allow to accept payments online with major credit card brands. Modern online payment systems are designed in such a way that they simplify payment processing and enables customers to purchase and pay for goods and services via mobile phones, tablet PCs and other portable devices.Dwolla is an online payment solution that is currently accepted only on the territory of the United States. As a major payment provider, Dwolla was founded by Ben Milne and Shane Neuerburg in 2009 with services operating in the state of Iowa. Thanks to enormous investments in the company development, its network was expanded with a few banks and online services.In 2011 the Dwolla Company launched its FiSync payment solution that enables customers, merchants and retailers worldwide to instantly handle transactions and accept payments online. Having developed FiSync, the company drew the attention of 11 financial institutions, which agreed on cooperation and partnership with Dwolla. Along with the FiSync release, the company launched an alternative to PayPal one-click payment service to process payments with no credit card information required. Generally, one of the major advantages of Dwollas products is a bank-based system with a solid fee per transaction. With such an online payment solution, online customers advance in lower transaction charges compared to traditional credit card payment services, which require up to 3.5% of the transaction amount. When integrating with Dwolla, no set up and registration charges are needed.Due to the secure system architecture, Dwolla ensures protection against illicit activity and fraudulent actions aimed to disclose private financial data. Using Dwolla social network solution, customers and merchants are able to process and accept payments online with their Facebook and Twitter account integrated with a payment notification system. Compared to such an alternative to PayPal system as Stripe, Dwolla doesnt deal with credit and debit cards, although its payment methods have been recently replenished with a credit product called Dwolla Instant with $500 limit per credit transaction.
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