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No worries. dwolla.com I believe uses and existing relationship with a credit union/bank and hence restricts real-time transfers to account holders of that/thos

by achguy 12y ago

No worries. dwolla.com I believe uses and existing relationship with a credit union/bank and hence restricts real-time transfers to account holders of that/those bank(s) - which is a small percentage. Additionally it requires signups, SS# etc. so the experience is fundamentally different. The problem is not just being able to make a financial transaction but able to do it easily - when I'm transacting on the Internet the last thing I want todo is signup for yet another service

pbnjay 12y ago
You're doing real-time payments?? My unanswered questions about no-NSF/guaranteed funds are even more pertinent then... It sounds like you've either got some ridiculously good creditworthiness detection, or you're glossing over a huge issue. As a money transmitter, I don't know how you'd get around the legal requirements to collect SSN and contact info for US recipients... Dwolla also has "Guest Sending" - so users don't need to sign up for dwolla to send me money: https://developers.dwolla.com/dev/docs/transactions/guestsend https://developers.dwolla.com/dev/docs/transactions/guestsen...
- achguy 12y ago
  As I alluded in my other reply we guarantee real-time authorization, not real-time settlement. Settlement can happen in batch mode using networks likes Check21 or ACH. No NSF != Guaranteed funds Any payor has the right to dispute a charge. That is a Federal Regulation (Reg E ) so no payment system can guarantee funds (other than wire transfers which are fund transfers not transactions i.e. not funds paid for goods/services received ) We guarantee no NSFs. With ACH NSFs are a big issue since until the 2-3 settlement is done one does not know whether the funds are going to clear. What the Payor disputes with the Merchant is between Payor and the Merchant In so far as SS# collection etc. it applies only to the receiver not to the sender. MTA laws apply only if funds are being held. As far as guest checkout for Dwolla and other services - please try it and let me know how far you can get without signing up for the service... the way I see it is guest checkout is simply deferring sign-up not obviating it.

by achguy 12y ago

pbnjay 12y ago

You're doing real-time payments?? My unanswered questions about no-NSF/guaranteed funds are even more pertinent then... It sounds like you've either got some ridiculously good creditworthiness detection, or you're glossing over a huge issue. As a money transmitter, I don't know how you'd get around the legal requirements to collect SSN and contact info for US recipients... Dwolla also has "Guest Sending" - so users don't need to sign up for dwolla to send me money: https://developers.dwolla.com/dev/docs/transactions/guestsend https://developers.dwolla.com/dev/docs/transactions/guestsen...

achguy 12y ago
As I alluded in my other reply we guarantee real-time authorization, not real-time settlement. Settlement can happen in batch mode using networks likes Check21 or ACH. No NSF != Guaranteed funds Any payor has the right to dispute a charge. That is a Federal Regulation (Reg E ) so no payment system can guarantee funds (other than wire transfers which are fund transfers not transactions i.e. not funds paid for goods/services received ) We guarantee no NSFs. With ACH NSFs are a big issue since until the 2-3 settlement is done one does not know whether the funds are going to clear. What the Payor disputes with the Merchant is between Payor and the Merchant In so far as SS# collection etc. it applies only to the receiver not to the sender. MTA laws apply only if funds are being held. As far as guest checkout for Dwolla and other services - please try it and let me know how far you can get without signing up for the service... the way I see it is guest checkout is simply deferring sign-up not obviating it.