jslampe

12 ms·

31.
Olive branches, rubrics and the state of faster payments in the U.S(techcrunch.com)
14 points by jslampe 11y ago|0 comments
32.
Fed's Task Force Announces Effectiveness Criteria for Faster Payments in U.S(fedpaymentsimprovement.org)
1 points by jslampe 11y ago|0 comments
33.
by jslampe 11y ago
(fair warning, didn't edit this) > Are the advances in the ACH system going to do away with fees that include a percentage component? See my answer to @hannan below. (Short answer: yes) > I would be very surprised if banks simpl
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by jslampe 11y ago
We live in a capitalist country where no endeavor willl be undertaken without some vision for profitability. This is fair. Stakeholders in the new system, the ones that put up the money to build and support the system (Financial Institution
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by jslampe 11y ago
This used to be a big thing, but since Check 21 and truncation that amount of money banks made has been severely marginalized. The big reason stems for risk. The 2-3 allows the receiving FI to mitigate, IIRC, around 70% of the risk associat
36.
by jslampe 11y ago
Source: I one of the elected tech-reps on the The Faster Payment Task Force,a Fed-chartered initiative to create a real-time improved bank transfer system, like the one in the UK. I also work at Dwolla, a payment platform that has exclusive
37.
by jslampe 11y ago
ACH for B2B is a significant chunk of that money, so is payroll. It's also admittedly misleading because the card networks use ACH significantly to settle money from Bank A to Bank B (i.e. on "the backend"). This is poignantl
38.
by jslampe 11y ago
How much time do you have? The rule book is like 600-700 pages. The best route I recommend is to engage your bank or processor, like Dwolla or Stripe, with your use case. They should be able to quickly identify what the requirements are for
39.
by jslampe 11y ago
I would also argue that ACH process $40T a year, while all credit and debit card networks move a collective ~$7T.
40.
by jslampe 11y ago
Not necessarily. BBVA has already this with Dwolla's real-time payment tech, FiSync. (Limited, I know, but it's the only cool proof of concept like it out in the wild) Also, there's been a lot of work done through the Fed&#x2
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by jslampe 11y ago
I haven't seen it first hand, but lots of our current customers ditched them (and others) after working with their APIs or lack thereof (#xml). In general, ACH just wasn't built to accommodate "platforms" as an entity in
42.
by jslampe 11y ago
I should also note that there is powerful Fed-chartered initiative, called the Faster Payments Task Force, going on right now. It combines +300 of the nation's payment stakeholders (including big banks, networks, retailers, etc). We&#x
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by jslampe 11y ago
TL;DR ACH is a commodity. The business model is derived by the platforms services offered, flexibility provided, and business targeted. ACH is a heavily commoditized product. For ACH processors, then, your business model is tied to the func
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by jslampe 12y ago
I used to turn on FIFA '06 on the background just to hear the soundtrack.
45.
by jslampe 12y ago
Find the widget at http://battleforthenet.com/sept10th
46.
The Internet plans net neutrality 'day of action' on September 10th(theverge.com)
15 points by jslampe 12y ago|2 comments
47.
Zinc Save allows Dwolla users to buy stuff on Amazon(blog.dwolla.com)
4 points by jslampe 13y ago|0 comments
48.
Education hackathon is giving away a school bus(blog.dwolla.com)
9 points by jslampe 13y ago|1 comments
49.
by jslampe 14y ago
I agree, but it's a rallying cry and a starting point for the community to cling to, if only momentarily. As a region evolves, the tech, talent, and culture will rise above the name.
50.
by jslampe 15y ago
To add onto that, if you think about it, a lot of other payment platforms already do this without your knowledge. How else do you think you get stuck with recurring magazine charges for Highlights Magazine... Or is that just me? Anyway, whe
51.
by jslampe 15y ago
Hey, I went ahead and updated that per a conversation below, sorry for the confusion. Yes, we do keep our 25 cents and is still far cheaper than the 2-6% interchange and 30 cent processing fees associated with the other networks. It's also
52.
by jslampe 15y ago
Hmm, sorry. Could you e-mail us with some more specifics? Give me or a new voice another chance to answer?
53.
by jslampe 15y ago
While we do have carried balances, which is stored by our other investors (non-interest baring), The Veridian Group, we do differ from PayPal on several fronts (disclaimer: PR messaging, sorry). 1.) Low-cost, flat fee of 25 cents 2.) Socia
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by jslampe 15y ago
No, no worries. Not a dumb question, especially considering how we phrased it on the blog. I think we got used to people being really familiar with our product, so launching right into a big blog release like that (which is our style) threw
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by jslampe 15y ago
Ha, fair enough. The Members Group is a financial services company (serving roughly 2 million members) and is one of our main investors and security partners. Working together with them, we've been able to provide Grid's distribution for fr
56.
by jslampe 15y ago
Happy to help. Grid is an Oauth API that allows third party access to our payment network, Dwolla. In case you're not familiar with Dwolla, we're a cash-based network that is devoid of credit cards (this is how we operate so cheaply). We al
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by jslampe 15y ago
Hey, everyone I'd invite you all to checkout some other coverage that may help clear things up a bit: - http://www.siliconprairienews.com/2011/06/dwolla-releases-gr... - http://thenextweb.com/apps/2011/06/07/dwollas-grid-api-could... Hone