Another Iowa credit union has added a Dwolla Corp. account and payments link to its online banking format, continuing a trend for the Des Moines, Iowa-based mobile-payment startup as it attempts to expand its reach.
Urbandale, Iowa-based Midland Credit Union has integrated Dwolla’s FiSync software into its online banking format, enabling customers to sign up for Dwolla accounts through a link on the institution’s website in a matter of minutes, shaving days off of a process that previously included application paperwork and waiting for approval, the companies announced Sept. 14.
The credit union, which serves 4,500 members, added Dwolla in order to enhance its technologies and provide what younger customers want, Becky DeVries, Midland Credit Union CEO, tells PaymentsSource.
“It is always a challenge to compete with the big national banks, and [offering Dwolla mobile pay] shows we are offering the products and services of greatest interest,” DeVries says.
A Dwolla account enables customers to make person-to-person payments and notify the recipient of the transaction via Twitter, LinkedIn or Facebook, DeVries says.
Credit union members will be able to transfer funds from their Midland account to a Dwolla account, and vice versa, and also download the Dwolla mobile application to make payments with smartphones and locate Dwolla-accepting merchants based on the smartphone’s current location, the press release states.
Dwolla on Sept. 6 announced it had upgraded FiSync to allow credit union customers at Veridian Credit Union in Des Moines to sign on to online banking and Dwolla accounts with one sign-on password (
Midland Credit Union customers initially will access Dwolla through a link, but DeVries says the credit union will explore the possibility of upgrading to the single sign-on access in the future.
Two months ago, Des Moines-based Financial Plus Credit Union became the first credit union to integrate FiSync to enable customers to access Dwolla payments through a link on the online banking page of the credit union website (
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