Ben Milne's profile on Product Hunt | Product Hunt

Ben Milne

Founder, Dwolla

#6116@bpmilnebenmilne.com

Activity 6 Made 6 Hunted 409 Following 2,159 Followers

Upvotes (87)

Joined on February 26th, 2014

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94 points

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A highly scalable, real-time USD ledger for developers

2yr ago

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@rayhanrafiq FiSync ( https://www.dwolla.com/fisync ) is a technology that could in theory, replace ACH transfers ( https://www.dwolla.com/ach/ach-transfer ). Unfortunately, it has not been fast nor easy to distribute and get connected to big banks. There's a lot of new changes in the market since that technology was released and it seems inevitable many more faster payment systems will come online over the next few years. As we discovered, building tech to move money in real-time is the easy part :) In the meantime, customers still need to move money! Dwolla's white label customers ( https://www.dwolla.com/white-label ) are using ACH to move money between bank accounts in the US. A huge advantage to using Dwolla is there are no transaction fees, you can instantly verify accounts, there's no need to go negotiate with a bank, and now you can easily manage customers/transactions in the applications you're building without building your own admin. FiSync is still an underlying settlement process as a part of Dwolla's platform but it's not the primary one customers use to move money between US banks. ACH still has the most cost effective connections than other US settlement systems. It's just hard for most businesses to use. The white label APIs and products make ACH a heck of a lot easier to use for developers and that's really the core value they bring.

on Dwolla Dashboard and Admin

4yr ago

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@klajdi_kl Thanks for the kind words. Let us know if you'd like any help coming to the US market! - https://www.dwolla.com/contact

on On-demand Bank Transfers by Dwolla

5yr ago