Dwolla offers new MassPay option

Dwolla  is an online and mobile payment system, similar to PayPal, however, Dwolla’s fee’s are much lower at $0.25 per transaction over $10, and transactions under $10 free of charge. Like PayPal, Dwolla is based on the US dollar. Un-like PayPal, you can use it to purchase bitcoins at exchanges such as Mt.Gox.

Dwolla has just announced their new mass payment system, appropriately titled MassPay.

This service offers businesses a faster and simpler alternative to check-writing and wire transfers, by allowing them to pay up to 2,000 people at once. It is seen as an attempt to take on PayPal whose own Mass Payment service only supports payments to 250 recipients, and charges 2% for each payment.

All that a Dwolla client needs to do to use the service is upload a CSV file with just two columns: one colum containing the email address, phone number or Dwolla ID of the recipients and the other containing the amount to be paid.

Further details on the service can be found here and the below video demonstrates the MassPay service.

Video Link

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