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Pay master: Ben Milne, founder of the digital-money company Dwolla, pays for coffee the old-fashioned way during a visit to San Francisco.

Ben Milne, a 29-year-old college dropout with a furry goatee and no background in finance, is on his second and third meetings with some of the world's biggest banks.

He thinks he has convinced them he's "not full of it."

This is no small thing. The startup company he founded, Dwolla, has introduced an Internet-based payment system that aims to bypass credit card companies. Not only that, but to work properly, it will require rewiring a crucial hub of the U.S. financial system known as the Automated Clearing House, a network banks use to transfer payments electronically, although usually with a delay of several days.

To read the full, original article click on this link: With Mobile Internet, Money Is Up for Grabs - Technology Review