The mobile payments platform Dwolla, which provides its customers with the ability to perform monetary transactions without paying debit or credit card fees, has launched a new service, Dwolla Instant.
The Dwolla Instant feature gives customers instant cash. You just opt in if you want it, and if you have an Internet connection, you can access up to $500 USD anytime, anywhere. Each transaction above $10 costs you 25 cents, but you can opt in and out of the Dwolla Instant service whenever you off (there is only one penalty fee).
So, for only $3 a month, the Dwolla Instant feature means you won't have to spend time searching for an ATM or waiting for your next paycheck. As the Dwolla blog puts it, "if you have access to the Internet, you have cash."
What Makes This Trend Stand Out
- Instant Cash Access
- More fintech platforms will adopt instant cash access features to cater to the on-demand economy.
- Fee-less Mobile Payments
- More companies will launch mobile payments platforms that eliminate the need to pay debit or credit card fees.
- Opt-in Financial Services
- Opt-in options for financial services will become more commonplace as consumers demand more control over their own finances.
Sectors Adopting This
- Fintech
- Fintech companies will explore more opportunities to provide users with instant cash access for a small fee.
- Mobile Payments
- Mobile payment companies will be pressured to eliminate card fees and implement features like instant cash access to stay competitive.
- Personal Finance
- Personal finance services will begin to offer more opt-in features that give users control over their own finances.
