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Dwolla just got faster.
The Des Moines-based financial technology company announced Tuesday that it now offers a service known as Real-Time Payments, allowing clients to send money to customers and vendors within seconds. Experts say the company s latest tool could help it lure new clients who don t want to wait days for banks and regulators to move their money along. Dwolla is positioned to lead into the next wave of payments, company CEO Brady Harris said in a statement.
Based on newer technology than the infrastructure that allows for other types of transactions, Real-Time Payments are an emerging feature in the finance sector. Lenders can send money back and forth within seconds through the Real Time Network operated by The Clearing House, an association owned by 24 of the world s largest banks.