Dwolla and Alliance Data Systems have announced signing 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."
Credit is not new—but providing it on a real-time network that removes interchange fees, supports the evolution of credit, and provides a means of cardless payment—is, and that's what Dwolla Credit does," said Ben Milne, chief executive officer and founder of Dwolla.Alliance Data will provide the newly launched credit program, called Dwolla Credit. Once approved, consumers can use Dwolla Credit immediately and for future purchases at participating businesses found in Dwolla's new Storefront directory (www.dwolla.com/storefront). Interested consumers and businesses can register for access at realtime.dwolla.com.
"Alliance Data's deep experience and the true interest they have in our company will not only lend a new level of convenience to our community of users, but will also give them front-row seats to what we believe will be some really great innovations to credit."