Payments platform Dwolla launched a new feature today called MassPay that will allow users to pay up to 2,000 other Dwolla users at one time.
Here’s how it works
Step 1
The user enters:
- Their Dwolla PIN
- The account from which they want draw the funds
- Their email address
Step 2
The user uploads a CSV file with two columns, one with the amount they wish to pay, and the other with the payee’s email address, phone number, or Dwolla ID.
Step 3
The user defines which columns in the file are the headers, and which contain the payee and payment amount information.
As with all Dwolla payments, any transaction under $10 is free, and for anything over that there is an additional 25 cent fee per transaction.
To promote MassPay, Dwolla will reimburse your first 5 MassPay batches made through November 30 in exchange for feedback about the user experience.
To learn more about Dwolla, watch its FinovateSpring 2012 and FinovateSpring 2011 demo.