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Dwolla lets you send money to your Facebook or Twitter friends for a small flat fee

Dwolla logoDwolla (you probably have to say it out loud to get it) is a newish entrant into the online payments world. It lets you send money to your Facebook or Twitter friends, or, obviously, receive money from them. Once you connect your Dwolla account to your social networking accounts, it will automatically import your friends lists, and you can start giving -- or receiving. You can also create 'hub' pages, which are basically microsites that allow you to ask for money.

A very cool thing about this service is its flat fee. It charges the receiver by default (although the sender can opt to cover the fee), and the fee is always a low $0.25, regardless of the amount being transferred. Also, that's the only fee. There are no fees for automatic withdrawals, manual withdrawals, or anything else.

One downside is that Dwolla is only available in the US for now. Hopefully, they will at some point decide that the world is worth conquering, but until then, only those in the States can use it.

Tags: dwolla, facebook, finance, online payment, OnlinePayment, payment, social networking, SocialNetworking, twitter, Web