24 May 2017
register for the webinar

Iowa introduces Dwolla option for tax payments

23 January 2013  |  5640 views  |  0 mobile

The US state of Iowa is set to let residents pay some of their taxes using Dwolla, a local digital transactions start up.

Des Moine-based Dwolla is a cash-based payment network that provides real-time, online and mobile payments, charging a flat 25 cent fee on any transaction over $10.

Iowa governor Terry Branstad and lieutenant governor Kim Reynolds say that they plan to see how they can use Dwolla's system throughout the state for things such as the collection of property taxes, issuance of refunds, vehicle registration and payment of government contractors.

In a first step, businesses that already pay more than $100 million in cigarette stamp taxes now have the option of paying via Dwolla. This is cheaper and safer than mailing and processing a paper cheque while the speed of the system also allows businesses to receive their tax stamps quicker, argues the firm.

Says Branstad: "This new method is an efficient, effective means of payment for Iowa taxpayers, and I look forward to expanding this service into additional areas within state government."

Ben Milne, CEO, Dwolla, adds: "The number of state and federal payments are in the billions with transactions totalling in the trillions, meaning even a fraction of savings could have a profound effect on the economy. This partnership is about creating a more sustainable, responsive, and convenient business climate for the state and its taxpayers, both today and tomorrow."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Dwolla lets users tweet money

Dwolla lets users tweet money

13 December 2012  |  8794 views  |  0 comments | 29 tweets | 11 linkedin
Bitcoin exchange TradeHill sues Dwolla

Bitcoin exchange TradeHill sues Dwolla

07 March 2012  |  7783 views  |  0 comments
Dwolla sets sights on growth with $5 million funding round

Dwolla sets sights on growth with $5 million funding round

08 February 2012  |  6245 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsDownload the paper nowvisit dh.com

Top topics

Most viewed Most shared
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8811 views comments | 27 tweets | 28 linkedin
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8804 views comments | 29 tweets | 35 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8599 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8575 views comments | 21 tweets | 24 linkedin
hands typing furiouslyOpen APIs - Leveraging Banking As a Servic...
6545 views 1 | 7 tweets | 9 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job