Dwolla launches electronic cash platform for social network users

Set to operate in and outside a users social networks, Dwolla’s peer-to-peer payment platform merges with Facebooks and Twitter’s APIs (application programming interface) to tap into linked communities in order to create personal cash sharing and spending networks.

Further on, the resulting platform allows individuals to share money with their Facebook friends and Twitter followers, regardless of whether these contacts currently have a Dwolla account setup yet. In consequence, the recipients money will be made available when the receiving individual registers a Dwolla account and links to the online community where the funds were originally sent.

Dwolla’s peer-to-peer payments platform is compatible with mobile applications designed for the iPhone and Android operating systems that mimic similar interactions provided by its website.