Most of us know how Paypal won't allow ecig purchases. For credit card processing, ecig vendors get stuck with ridiculous "high risk merchant" fees.
Here's a way for suppliers to get payments for only $0.25 and no other fees: Dwolla
This should get them to be able to offer buyers better prices. When people start using Dwolla they can get a free $1-5 too. Just follow @DwollaX on twitter and they will send you a link to sign up. The sign up process is simple, pretty much the same deal as getting verified with paypal.
I'm not affiliated with Dwolla in any way but at least one other person knew about Dwolla in this other thread. I'm in contact with them a bit and have followed them for a few months so I am pretty familiar with how it all works if anyone has questions.
There video paints a little too rosy of a picture so here are the two things you need to worry about:
- Dwolla uses bank ACH (e-checks). My credit union doesn't charge for this and normally processes payments in 1-2 days. There are a few banks out there, like BoA and Chase from what I have heard, that do charge like $10 for using ACH.
You can pretty easily sign up with a better bank like USAA or Ally that doesn't charge. People might want to pay attention to changes their banks have made in the past few months too. The '09 "consumer protection act" or whatever misleading name used has imposed a bunch of regulations so that a lot of banks are doing away with free checking.
- The time period it takes.. you need to either keep some amount of money in Dwolla or wait a couple days. I know that some of us remember a time before everything in the world was on Amazon or are able to plan ahead. Those who just can't deal with anything besides instant purchases will want to stick to credit cards.
Dwolla has been improving pretty rapidly and I expect them to be international by next year. Just a few weeks ago they started "FiSync" which is a service to banks to make the payments instant just like plastic. So, they are already working on what I see as the only disadvantage to using it.
Here's a way for suppliers to get payments for only $0.25 and no other fees: Dwolla
This should get them to be able to offer buyers better prices. When people start using Dwolla they can get a free $1-5 too. Just follow @DwollaX on twitter and they will send you a link to sign up. The sign up process is simple, pretty much the same deal as getting verified with paypal.
I'm not affiliated with Dwolla in any way but at least one other person knew about Dwolla in this other thread. I'm in contact with them a bit and have followed them for a few months so I am pretty familiar with how it all works if anyone has questions.
There video paints a little too rosy of a picture so here are the two things you need to worry about:
- Dwolla uses bank ACH (e-checks). My credit union doesn't charge for this and normally processes payments in 1-2 days. There are a few banks out there, like BoA and Chase from what I have heard, that do charge like $10 for using ACH.
You can pretty easily sign up with a better bank like USAA or Ally that doesn't charge. People might want to pay attention to changes their banks have made in the past few months too. The '09 "consumer protection act" or whatever misleading name used has imposed a bunch of regulations so that a lot of banks are doing away with free checking.
- The time period it takes.. you need to either keep some amount of money in Dwolla or wait a couple days. I know that some of us remember a time before everything in the world was on Amazon or are able to plan ahead. Those who just can't deal with anything besides instant purchases will want to stick to credit cards.
Dwolla has been improving pretty rapidly and I expect them to be international by next year. Just a few weeks ago they started "FiSync" which is a service to banks to make the payments instant just like plastic. So, they are already working on what I see as the only disadvantage to using it.
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