UPDATED 12:21 EDT / FEBRUARY 02 2012

NEWS

Dwolla Brings Mobile Money to iOS and Android with Big Update

Des Moines-based Dwolla has expanded it’s capabilities for mobile users seeking to exchange money on-the-go with updates to their iOS and Android apps. Be sure to check out the images of the apps embedded below.

Last December, the financial-network service released “Instant,” a payment mechanism as an opt-in feature that allows Dowalla customers install access to cash stored in their system. The company is touting Instant in their list of features for iOS devices as the first bullet-point, so you can tell it’s important to them.

As for the new iOS app, here’s a list of the features you can expect:

  • Ability to turn on Instant
  • Ability to deposit money
  • Mobile sign up with phone verification 

The Android app has seen even bigger changes than the iOS app, adding a revamped UI, and numerous services not previously available to these mobile customers:

  • Totally new UI
  • Spots overhauled
  • Proxi Added
  • Ability to turn on Instant
  • Contact(s) list functionality
  • Ability to deposit money
  • Mobile sign up with phone verification
The updates do make the app look very nice as you can see in the screenshots below. With the modification to the address book and Proxi–allowing for discovery and “contactless” mobile payments.

The company claims its rise to fame and primacy as a financial network to the power of social media and hopes to even rival Paypal for mobile payments; but it’s a long road ahead. Even the credit-card companies are getting into that game and pushing into the market.

Soon, we’ll see a thriving mobile-payment network begin to merge with phones and other devices and whoever gets to the market first with the best-supported consumer oriented service (hopefully with the lowest fees, which Dwolla has covered) will probably win.


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