It's all about instant money transfers. And elimination of credit card processing fees. That is the double-barreled reason the $2.2 billion Veridian Credit Union in Waterloo, Iowa has now adopted the FiSync payments platform from Des Moines-headquartered Dwolla, said Veridian executive Eric Kinman, manager of marketing.

"We are rolling this out to our 167,000 members," said Kinman who acknowledged that Veridian had recently investigated multiple person-to-person payments technologies but it had decided to adopt Dwolla, a company that is supported by Des Moines-based The Members Group, which specializes in payments and card processing technologies.

He said Veridian expected quick adoption by merchants because they will benefit both from dramatically lower fees and instant availability of funds in their account.