Five weeks ago, Dwolla announced a momentous milestone: $1 million a week in transactions. Today, the peer-to-peer payments network is at it again, announcing in a blog post that they’ve hit $1 million a day. Visually plotting this growth for the fist time, they’ve posted the above infographic, showing the use of their network since its December launch, most notable, the hockey stick-like growth this past month.
“What it means for us is it’s a good market validation point,” Dwolla co-founder and CEO Ben Milne said in a Skype interview yesterday. “There’s a lot of payment services that don’t get that far, there’s a lot that get further, and we intend to get a lot further.”
As he did with the recent announcement, Milne made a comparison to Square, another mobile payments startup. “We got excited when Square did a million a day and we’re pretty stoked that we got there, too.”
Square, which received a $1 billion valuation in June, is now processing credit card transactions of $4 million per day. The San Francisco-based startup co-founded by Jack Dorsey hit its $1 million per day milestone 16 months after its October 2010 launch. Read the full article and see the chart at SiliconPrairieNews by Danny Schreiber.