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by miles_matthias 5293 days ago
That is one of the goals but the other goal is reducing the cost for the merchant. Merchants will prefer you to pay with Dwolla as opposed to a credit card because they don't give up as big of a fee on each transaction, this earning them more revenue.
1 comments
pbreit 5293 days ago
Maybe. But 2-3% is about the right price for a financial txn between strangers, especially when not face-to-face.
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eridius 5293 days ago
Why? Why should there be a percentage-based fee at all for financial transactions? This is an idea that credit card companies have pushed onto the world, but there's no reason it needs to be accepted as fact.
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pbreit 5293 days ago
I didn't really mean all. I did say between strangers and especially when the two are not face-to-face. Two other qualifiers: 1) when "good funds" need to be transferred immediately and 2) for dollar ranges from around $10 to $1,000. This makes up the vast majority of retail commerce for which credit cards are so well suited and widely used.

Best approach is to look for areas where credit cards are not widely used instead of trying to displace them in areas where they work really (really, really) well.

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