No more dwolla - new service agreement

[420]

"Virtual Currency" is a medium of exchange that operates like a currency in some environments, but does not have all the attributes of real currency. Virtual currency does not have legal tender status in any jurisdiction. This term includes peer-to-peer crypto currency, including, but not limited to: Bitcoin, Litecoin, Namecoin, and PPCoin.

You understand and agree that You will not engage in the following activities:

Use of the Dwolla System, without Dwolla's written consent, to operate or engage in any business regulated by FinCEN, including the money service business;
Use the Dwolla System to engage in any transaction involving Virtual Currency (including any purchase or sale of any virtual currency) or to provide a marketplace and/or exchange for Virtual Currency;

[Walsoraj]

I thought they were going to allow for xfers from CampBX (one way and only for established accounts) until the end of the month.

[420]

I thought they were going to allow for xfers from CampBX (one way and only for established accounts) until the end of the month.

6 more days only

but there was apparently an 'error' preventing people to even get money back to dwolla the last few days

[Walsoraj]

I thought they were going to allow for xfers from CampBX (one way and only for established accounts) until the end of the month.

6 more days only

but there was apparently an 'error' preventing people to even get money back to dwolla the last few days

The new agreement doesn't say anything about 6 more days...

[wasserman99]

i wonder what kind of transaction share virtual currencies were for dwolla. i know they said very small % of merchants, but it must have been a decent chunk of their business.

[420]

i wonder what kind of transaction share virtual currencies were for dwolla. i know they said very small % of merchants, but it must have been a decent chunk of their business.

they said 0.1 percent

"As Dwolla gears up for a new stage of growth, we recognize that we can no longer sustain this merchant base (.1 percent of Dwolla merchants) and its unique needs, and that attempting to do so jeopardizes both of our communities' starkly different, but similarly ambitious, vision for improving payments. "