What could help Passbook stay competitive is its specific focus on addressing the needs of immigrants. The offering's flexibility, lack of fees, and its tie-in with Remitly's money transfer services could all help Passbook accounts stand out to this group. And given that immigrants in the US earn over $1.3 trillion in wages annually, per Remitly's press release, becoming a popular deposit holder for that demographic is a lucrative goal.
But to gain sustainable success, Passbook will need to become a primary bank account for customers. Because Passbook accounts come with no monthly fees, eschew many of the other popular types of fees , and don't carry any minimum balance requirements, they won't yield much revenue for Remitly up front.
Instead, Remitly will need to lean on the benefits and flexibility of Passbook accounts to convince customers to use them as their primary bank accounts. If customers instead decide to, for example, store only small amounts of funds with Passbook in order to attain the international transfer benefits that accountholders enjoy, the offering could end up adding to Remitly's costs without contributing any significant profit.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Apple maps redesign is official in US and soon to hit Europe - Business InsiderApple revamped its Maps for all users in the US and is soon to take to Europe. Here's what you should be looking forward to.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Coronavirus: Flight attendant union head calls on US government - Business InsiderSara Nelson criticized the government's response to the coronavirus, and called on federal departments to better coordinate with airlines. Im sure a flight attendant knows all about fighting a virus. Once this virus is contained I promise you no investigation into the possibility that it is man & woman created and was maliciously released in China because of the months long protests in Beijing that caused hundreds of billions in lost profits We have an influential flight attendant here in America?
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
US will develop 5G with American, European companies instead of Huawei - Business InsiderThere's finally an answer to which companies the United States will use to deploy 5G technology if it isn't going to use Huawei. The hacker, afraid of being hacked😂😂😂
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
US stocks on pace for biggest spike since August as coronavirus fears settle (SPX) | Markets InsiderUS stocks ignored coronavirus fears in Tuesday trading and posted a second consecutive day of healthy gains. The S&P 500 is on pace for its ...
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
A Bill Gates-backed startup is working with CBP to surveil the US-Mexico border - Business InsiderThe rise in border surveillance experiments reflects companies' efforts to capitalize on an increase in federal funds flowing to the border. SecPompeo realDonaldTrump If Bill Gates is involved in anything, you cannot be sure that it is safe or secure. He is all about technology and programming and I can prove that he keeps doors open for the hacker.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
11 places in the US that are offering new residents big incentives to move there - Business InsiderSome places are offering money toward college loans or free land to lure out-of-state workers to move.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »