Dwolla provides a platform which allows users to send, receive and request funds from any other user. Customers will be able to gain access to Dwolla’s tools in Q1 2012. Financial institutions have the option of integrating the Dwolla network with their systems via Dwolla’s FiSync. The product, distributed by payments provider The Members Group (TMG), allows a credit union or community bank to connect the payment platform directly to the bank’s existing systems, co-branding Dwolla’s core technologies, such as mobile payments and social network integration.
In recent news, Dwolla has announced that it is processing USD 1 million in transactions daily.
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