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I still don't see how Dwolla is different than a young PayPal. PayPal has offered free, ACH-funded person-to-person payments for 12 years. You only start gettin
by dangrossman 15y ago
I still don't see how Dwolla is different than a young PayPal. PayPal has offered free, ACH-funded person-to-person payments for 12 years. You only start getting charged 2.9% when you upgrade to accept credit cards; PayPal could drop the fee for ACH-funded payments any time they want to undercut Dwolla.
What is Union Square Ventures betting on?
- davidcann 15y agoPerhaps they're betting on PayPal's terrible reputation.
- noahc 15y agoDwolla is different because they're not building a PayPal, their building a Visa. Long term that's their vision. That's what USV is betting on that someday you'll be paying with Dwolla at Walmart.
- gergles 15y agoYet PayPal is already doing that too. http://www.chicagotribune.com/business/breaking/chi-paypal-tests-instore-payments-with-home-depot-20120106,0,3058955.story http://www.chicagotribune.com/business/breaking/chi-paypal-t...
- noahc 15y agoExactly, they both see the end game. When I referenced Paypal, I meant it in terms of what we traditionally think of as Paypals core business which is online payments made via checks, credit cards, and debit cards.