Dwolla launches the "proxy" based on contactless mobile payments

Internet and mobile payment platform Dwolla has launched a new feature called "proxy", which allows users to send and receive cash based mobile payments based on their current proximity to another device. Technology bypasses the need for special equipment, such as square plastic dongles or NFC chip embedded in the phone, in order to make mobile payments.

Instead, this interface provides a simple way for users to find Dwolla in the vicinity of contacts and send them money, using only the mobile application itself.

Dwolla, not knowing is a company with a unique take on the digital payments. His vision is that consumers, not third parties, dictating how their payments network works. What does this mean for Dwolla and its users is a payments network that is not personal information. And most importantly, run Dwolla in this planned violation of cash from the market of electronic payments.

Dwolla in "proxy" Beta

With a new function "proxy" (Beta) Dwolla founder Ben Milne explained that the company expects to accomplish much in the same as NFC makes it possible, but without the need for expensive hardware. With NFC added security because you will have to be physically present to pay. The proxy uses the GPS for the same reason.

When you run proxy pulls mobile applications a list of those who are near you and able to accept payments, including nearby users and merchants.

And, like everything else does Dwolla proxies considers the security of users first. For example, you can control whether you want to be visible only to contacts or for a wider range of Dwolla users, you can control how much time you will be visible, and you can control the distance at which you visible with settings for 300 ft, 1 mile or 5 miles.

Proxy beta will initially be available in iOS and will roll out to other mobile platforms (Android, Windows phone) in the coming weeks. Beta is closed for now, but TechCrunch readers can to request immediate access here: https://www.dwolla.com/proxi/beta. there will be limited spots, so access on a first-come, first-serve basis.

Pros and cons of Dwolla

Proxy-this type of function that can be Dwolla in the territory of the "interesting idea" to become a more practical application. Secure, person-to-person (or people-to-business) mobile payments without high fees associated with PayPal, or need special equipment? Sounds good here.

The only drawback is that Dwolla does not directly connect to your own bank account in the same way that your debit card, which may confuse users for the first time, I don't understand, why are other financial institutions. Instead, the Dwolla has partnered with a group of Veridian, Veridian Credit Union branch in Waterloo, Iowa, and members of the Group (TMG) other financial and Credit Union service organization owned by Iowa credit unions and their members. Through these organizations, which borrow in Dwolla in the user accounts, people can send and receive money from their own bank accounts.

While Dwolla is an easy to use, this is hardly available for use throughout the world, so that your debit.

And finally while Dwolla fee is not outrageous, they are present. Dwolla has a flat 25 cents for a fee, regardless of the amount of the transaction. It's less than PayPal 30 cents for a Commission. There is also no additional percentage of the amount of the transaction, even if one is now PayPal charges 2.9% for additional deals for $ 3000.

Dwolla currently has 40000 users with transactions for users of the high volume of deals and transactions B2B, represents the largest value of the dollar. The company will be rolling out more technology during the month of September, so stay tuned.

Dwolla provides free Web-based software platform that allows users to send, receive and solicit funds from any other user. Dwolla the maximum transaction cost is 25 cents per. ..

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The area is now processing $ 4 million in mobile payments per day

Leena Rao is currently working as a writer for TechCrunch. She recently finished graduate school of the Medill School of journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007 she helped lead efforts for advocacy and community relationships Congressman Carloyn Maloney in New York. She graduated from Columbia University in 2003 where it was ... ? Read More

Flush with $ 100 million in new funding, the area continues to grow as weeds in the space of mobile payments. After passing the mark of $ 3 million at the end of may, every day now is $ 4 million in mobile payments and is on track to achieve more than $ 100 million in transactions in July. And COO Keith Rabois tells us that he expects the company to double the volume by October.

At the end of June the area raised a massive round of financing, which valued the company above $ 1 billion. While the announcement revealed that the area was nearly $ 4 million payments a day, but the company surpassed Mark a month later. Rabois tells us that the international expansion is part of the next phase of economic growth. He looked forward to the possibility of payment of the initial launch of the outside of the United States in 2012.

And the iPad using square is on the rise, especially after the company launched subversive new application iPad replace cash registers, and loyalty cards. Breakdown in terms of use are the iPad (21%), iPhone (45%), iPod (3%) and Android (31%).

Last year, the area has sent more than 500 000 credit cards readers, processed more than 1 million transactions per month. And square device now sold in Apple stores.

In principle, if you do not accept square seriously, perhaps you should reconsider.

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