Dwolla’s updated user registration process now prompts new users to send free money to their contacts.
Online cash transfer startup Dwolla quietly released a redesign of its user account interface on Sunday. The new look puts the user’s balance (amount held in Dwolla) and Instant balance (an optional line of credit) on the top of a user’s dashboard. It also presents a text field to enter an amount to either send or request money and a field to find a contact for one of those actions. A “Places” tab with a foursquare connect was added, but its utility is forthcoming.
For current Dwolla users, the new design should be an easy transition as it’s not a major overhaul. For new users, the design is intended to be educational, said Jordan Lampe, Dwolla’s director of communication. Now, instead of connecting a checking account or adding contacts, users are immediately given the ability to use Dwolla’s core feature, sending money online.
Following a registration page, the first action a new user is encouraged to take is to send money, free money. “Search for someone and we’ll shoot them some cash on your behalf,” Dwolla’s website says. Users have the ability to send 10 cents to an individual by entering an email address or phone number or connecting their Facebook account to send to a friend.
This educational, free money step has its limitations, of course. A new user is allowed to send 10 cents at a time to five different individuals only at the time that he or she signs up for Dwolla. The feature is not yet available when accessing Dwolla on a mobile device.
Since announcing its Series B round in February, Dwolla hasn’t released a major feature or milestone, but on its blog it hints at news on May 8 at FinovateSpring, an event featuring financial tech companies. “Come May 8th and 9th, we’ve earned ourselves another 7-minute time slot,” Dwolla CEO Ben Milne wrote. “This isn’t a one-off product, or something little. This is a 420-second demo of a first-of-its-kind technology.”
Check out the screenshots of the Dwolla’s user account redesign below.
Credits: Screenshots from dwolla.com.