Okay so whats up with Dwolla? How does online payment works exactly?
hi there guys,
ok i was thinking more about all this payment processors like paypal and recently the hype about Dwolla..
ok so here;s the thing.
their per transaction is .25 which is all good and low.
but it doesnt make sense. at least to me, sorry if i sound stupid but im not in this trade that is why im asking.
1. to have a Dwolla account u need to link it to ur bank account. but no credit cards.
2. if u transfer funds or pay someone using Dwolla its only .25 but the money will be transfering from ur bank account to the other guy;s Dwolla account or his bank account TRU Dwolla of cos.
3. so here is the thing, banks charge too for transactions and money transfer.
so how on earth is Dwolla going to cover for that with only .25$. which is 25 cents. ???
and also in future if it plans to go international then it will be a bigger problem.
transfering money internationally from one bank to another is costly.
those transfers are called wire or telegraphic transfers.
how on earth is 25 cents going to cover for that?
for paypal i understand because their 2.9% is enough to cover as wire is only 1/8% handling fee for banks.
Secondly, i read the article and am abit confused. maybe is my reading, i read tru too fast just to get a overview.
1. is Dwolla's aim is to eliminate credit cards and their fees. but isnt credit fees run by banks? that is why banks are so aggressively pushing their cards and asking people to sign up..
so how is he able to work things out with banks? is like saying im going to compete with u, now work with me to achieve that. lol..
2. he said in his own words Dwolla is not looking to compete with paypal but more with the credit cards. but i think there is a difference here. credit cards allow u to use and pay by credit which means money u dont have.
so if u eliminate them then isnt it like your normal debit card? or like nets in singapore. where u pay $0.30 per transaction only. that is what they have in singapore.
3. just so curious to know and i know lots of other people here will want to know too.. each time u read stuff like this saying and investors, and investors... and investors.. where on earth they get and find their investors? lol..
some more the right ones that actually open doors for u and not just supplying the $$$$$.. hahaha.
cheers
ok i was thinking more about all this payment processors like paypal and recently the hype about Dwolla..
ok so here;s the thing.
their per transaction is .25 which is all good and low.
but it doesnt make sense. at least to me, sorry if i sound stupid but im not in this trade that is why im asking.
1. to have a Dwolla account u need to link it to ur bank account. but no credit cards.
2. if u transfer funds or pay someone using Dwolla its only .25 but the money will be transfering from ur bank account to the other guy;s Dwolla account or his bank account TRU Dwolla of cos.
3. so here is the thing, banks charge too for transactions and money transfer.
so how on earth is Dwolla going to cover for that with only .25$. which is 25 cents. ???
and also in future if it plans to go international then it will be a bigger problem.
transfering money internationally from one bank to another is costly.
those transfers are called wire or telegraphic transfers.
how on earth is 25 cents going to cover for that?
for paypal i understand because their 2.9% is enough to cover as wire is only 1/8% handling fee for banks.
Secondly, i read the article and am abit confused. maybe is my reading, i read tru too fast just to get a overview.
1. is Dwolla's aim is to eliminate credit cards and their fees. but isnt credit fees run by banks? that is why banks are so aggressively pushing their cards and asking people to sign up..
so how is he able to work things out with banks? is like saying im going to compete with u, now work with me to achieve that. lol..
2. he said in his own words Dwolla is not looking to compete with paypal but more with the credit cards. but i think there is a difference here. credit cards allow u to use and pay by credit which means money u dont have.
so if u eliminate them then isnt it like your normal debit card? or like nets in singapore. where u pay $0.30 per transaction only. that is what they have in singapore.
3. just so curious to know and i know lots of other people here will want to know too.. each time u read stuff like this saying and investors, and investors... and investors.. where on earth they get and find their investors? lol..
some more the right ones that actually open doors for u and not just supplying the $$$$$.. hahaha.
cheers
Publish Coloring Books for Profit (WSOTD 7-30-2015)