Dwolla and mFoundry partner for mobile cash transfers in the US

Transfer money via mobiles

Cash transfer network, Dwolla, has joined forces with mobile banking firm, mFoundry, to offer a mobile money transfer service to up to 800 banks in the US. The service will be available to banks that already use mFoundry’s Fin.X mobile banking platform, allowing them to offer their customers cash transfers via mobile in real time. Dwolla’s CEO, Ben Milne, claims that the service will be “cost-effective” to millions of US banking customers who want to transfer money using their smartphones. It also offers banks a new revenue stream, with users charged a small fee for using the service.

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