Sellers on Atomic Mall now have a low-cost option for processing payments thanks to integration with Dwolla. Atomic Mall founder Mike Shannon said the online marketplace adopted Dwolla as its newest payment partner on January 1st – sellers are now able to add this pay option to their stores.
“Members have been requesting this option, and literally within minutes of it going live, we had new sign ups,” he said, “so I think it’s going to be well received.”
Dwolla is an extremely low-cost payment processor – in some cases, there’s no cost at all to the merchant: there is a flat 25-cent fee for all transactions, and there is no fee for any transaction under $10. “When you begin to compare this fee structure to others like PayPal ($.30 + 2.9% vs. $.25 + 0.0%), the differences can be substantial,” the company explained. Sellers should note that Dwolla is not identical to PayPal.
Dwolla is optional, and sellers on Atomic Mall may continue to choose to accept PayPal, Amazon Payments, Visa, Mastercard, and Bitcoin payments.
On a page describing the Dwolla payment system, Atomic Mall explains:
Dwolla is the online and mobile cash network that connects to your social community and location to share and spend money. Using proprietary technology and business partnerships with the Veridian Group and The Members Group, Dwolla allows consumers and organizations to send and receive money from their bank accounts for only 25 cents per transaction, no matter how high the transfer amount.
Shannon expects Dwolla to help sellers by allowing them to retain the bulk of their revenues when they make sales on the site instead of paying out 3 – 5% in processing fees, he said. ” It’s an especially attractive option for merchants who deal in low cost items, where they will be able to accept payments from buyers with no intermediary fees at all.”
You can find more information on the Atomic Mall website.