Dwolla, an alternative payment system built off cash networks, has quietly been on a roll in its first year, hitting $1 million in daily transactions in July. Two weeks ago, the Des Moines, IA start-upeliminated fees on transactions for less than $10, another big step in its bid to replace credit cards.

Now the company is celebrating its first year on the market by introducing a new feature called Instant that addresses one of the lingering pain points in the system: the three to five day delay users face when accessing cash. With Instant, users can deposit money and send cash without the existing wait time built into Dwolla.