By: Jordan,

 

Here, in Des Moines, there are a handful of taxis (our favorite), but in contrast  New York has over 50,000.

And if GetTaxi has it their way, about +35,000 of them will have the ability to take electronic cash payments. Yup, the car-pickup service is highlighting the option to pay with Dwolla in their bid to win the highly-coveted RFP  for its official mobile app

What’s great is that they have the street cred to do it. Recently raising $20 million from Access Partners, the international startup has over 110 employees, 400,000 iPhone downloads (don’t worry, Android and Windows versions are available too) and is killing it in 13 countries, including the UK, Russia and Israel. Hell, even their USA CEO, Jing Herman, is a former taxi cab driver.

So why is adding Dwolla so important?

Because every cent matters.

Because every second matters.

Because every transaction matters

The idea is simple:

Dwolla’s technology is mobile and already location-based friendly.

Dwolla’s network is free under $10, not 2.75% plus 30 cents per transaction (the average cab fare is $9.61)

Dwolla removes sensitive financial information from your transactions and devices.

Infographic: Pitch Interactive

Infographic: Pitch Interactive via WIRED Magazine

 

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Financial institutions play an important role in the Dwolla network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.