Koala Pay Signing Merchants for Dwolla-Based Mobile Payment App

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Koala Pay, LLC announced the creation of Koala Pay, an app that will allow users to electronically pay merchants, purchase gift and prepaid cards, and receive specials as well as rewards. Koala Pay works with any checking account.

Any person with a checking account can link to Koala Pay because we’ve incorporated Dwolla.

Koala Pay believes their app is the only payments app that will link a checking account to such a broad spectrum of merchant tools, including gift and prepaid cards for consumer specials. Because Koala Pay uses state-of-the art payments processing from Des Moines-based Dwolla, merchants will pay less per transaction than a typical credit card transaction while also leveraging mobile-based social marketing tools. Koala Pay will allow consumers to pre-purchase specials from their favorite Koala Pay merchants, as well as simply pay any Koala Pay or Dwolla-accepting merchant by using their smartphone.    

Koala Pay seeks merchants and users for beta tests in "Iowa’s Creative Corridor" of Iowa City and Cedar Rapids as well as Des Moines. “Any person with a checking account can link to Koala Pay because we’ve incorporated Dwolla, “ said Koala Pay President Troy Miller. “That’s well over 100 million US checking accounts. In addition, over 100,000 current Dwolla users will be able to simply link their existing Dwolla accounts to Koala Pay to receive enhanced functionality.”

Koala Pay was founded by Troy Miller and Josh Cramer in January, 2012. Miller is a serial entrepreneur who founded Naomi’s Kitchen and Isaac’s Creamery in North Liberty. Cramer is a 12 year veteran of web and mobile development and founder of Cramer Dev in Iowa City. Koala Pay is self-funded.

Interested merchants and users may sign-up for Koala Pay notifications at http://www.KoalaPay.com.

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