Oglesby agrees that Dwolla Price is another smart move on Dwolla's part. "Getting consumers to choose Dwolla payment in an environment where alternatives exist is a key challenge," he says. "Getting the merchants to help steer transactions towards Dwolla is a 'win-win' scenario (they cut out the payment networks and issuers, and share the savings between the merchant and consumer)."
Dwolla transactions take about two to four days to process, Lampe told Bank Technology News That amount of time could decrease as Dwolla improves its own system. But for now, that could potentially relegate the service to merchants that don't need to immediately get their hands on their customers' money.
In the meantime, Dwolla sees itself, Lampe said, as a conduit for developers to build on top of, hence its latest software patches that will help the company better work with third-party programmers.
"We've been stretching ourselves pretty thin to create value within markets where that value is," he said. "It's been a long journey of self-discovery and we are looking to step up our game."
Dwolla isn't alone in this strategy.
Over the past two years there has been a rush of companies, such as Braintree and Cardspring, focused on simplifying payments, said payments consultant Philip J. Philliou.
"Simplifying payments and taking cost out of the payments ecosystem is the right use of web technologies," he said, in an email. "It is still early but these companies are starting to gain momentum."