Mobile payments startup Dwolla today launched realtime payments, which it says has been under development for the last three months. You can sign up for the beta now over at realtime.dwolla.com.

Not much is known about the feature right now, but Dwolla does make the following promises:

  • It will allow you to buy the things you love, immediately.
  • It will introduce a new level of convenience to the community.
  • It will carry the same low transaction cost.
  • It will introduce some new friends to the network.
  • It will open up the network to new ideas and possibilities.

The first, second, fourth, and fifth points are rather obvious: realtime means buying and selling much faster, which can be very useful and offer a lot of potential for both new and old players. The third point, however, is the icing on the cake: if Dwolla isn’t going to charge more for this feature, it will be seriously stepping up the competition against PayPal.

See also – Dwolla raises $16.5M from Andreessen Horowitz to help it scale, double staff and open SF office and US payments startup Dwolla now supports wire transfers

Top Image Credit: Christa Richert