Dwolla is now a serious payments option for businesses that require large transactions.
Remember the tagline from MTV’s The Real World, “What happens when people stop being polite and start getting real?” That’s what Dwolla, online and mobile payments network, meant to say when they announced today that they’re raising transaction limits from $10,000 to $50 million. The best part? Whether it’s $10.01 or $50M, the cost of each transaction is only 25 cents with no additional fees, no hidden fees, no setup fees and no monthly requirements.
That bodes well for businesses that require large transactions for the payment of taxes, goods, supplies, machinery, raw materials and real estate transactions. Using a wholesale vinyl window manufacturer as an example, it can now use Dwolla to pay for its monthly shipment of vinyl extrusion, pay its window hardware suppliers and allow wholesale customers to pay for their orders.
Dwolla has always believed that it costs the same amount of money to move $11 as it does $51,000,000.06.
So today, we’re accepting applications for those that wish to extend new limits on an account’s transaction sizes. These new limits will allow Dwolla merchants and non-profits to use the system for high-amount transfers while enjoying the same security, protection, and price that our transaction style and network provides over ACH. This means a safer, faster, and easier way to send millions for just a quarter.
Businesseses that require larger transactions can learn more about Dwolla’s new limits and apply to increase their transaction limit.
Oh, almost forgot. Dwolla also redesigned their website. Looks nice.
To contact the writer on this story: Philip Nowak in Chicago at [email protected] Please contact us if you’d like to submit a small business innovation story or small business tech startup, product or service.
Philip Nowak is the founder of Firmology, a small business news and information media company focused on helping small business owners grow their business through technology and innovation. You can find Philip on Google+, Twitter and LinkedIn.