How can Dwolla persuade banks when banks earn more revenue from debit card transactions?

Asked Jan 2, 2014· 1 answer

Faisal KhanAnswered Jan 2, 2014

Dwolla doesn't have to convince them, they are essentially plugging into the ACH - which all banks subscribe (connect/transact to). The notion is that Dwolla is the online equivalent of an electronic cheque being processed.

Payment Infrastructure Account-to-Account Payments ACH Domestic Payment Schemes

Related in Domestic Payment Rails, National Switches and Clearing Systems

How can ACH be used to move money between a customer’s own checking and savings or investment accounts?1 ans Is there a way to let users transfer money to each other directly from their bank accounts inside my app?1 ans How does an app enable transfers between two different bank accounts?1 ans Which company or API can assist with enabling ACH deposits into mutual funds?1 ans