Alliance Data, Dwolla announce multi-year agreement

Dwolla and Alliance Data announced they have signed a new, multi-year agreement for Alliance Data's Retail Services business to provide a cardless private label credit product for the Dwolla payment network. Dwolla uses the Internet to create its cardless network of mobile phones, computers, and even physical locations to bypass traditional card systems, allowing transactions inside its network to take place instantly and at a cost of 25c per transaction, or at no cost for transactions of $10 or less.

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