Pay your friends on Facebook and Twitter with Dwolla

money-traveling-down-internet-tubesPaying people to be your friends online just got a whole lot easier. Dwolla, a peer to peer payment platform, has just announced that its service is now available in all 50 U.S. states and supports Facebook and Twitter, reports the AP. Dwolla is a web service with mobile apps as well. Like PayPal, it allows users to send and receive funds to one another via the net.

With its new Facebook and Twitter service, Dwolla users can message or direct message their friends a link with a Dwolla payment attached to it. The process is more secure than standard web-based transactions and only costs 25 cents per transfer, much less than traditional credit card fees. If both the sender and receiver have an account, the sender pays the fee; if only the sender has a Dwolla account, the receiver pays the fee. Pretty simple.

Dwolla believes tying the service to social networks will make it more personal. “I think it improves confidence considerably when you see a message from my grandson Ben,” said Ben Milne, Dwolla’s chief executive, describing a hypothetical payment to his grandmother. “It’s from Ben, rather than from Dwolla. Who’s Dwolla?”

In addition, Dwolla has received $1 million in funding from the Veridian Credit Union, which also gives the company FDIC backing. Dwolla transactions are secured by the same technology that protects online banking systems.

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