Finance: why can’t some people have bank accounts

 

As advanced in a previous article, innovative payment solutions offer a lot of benefits to customers who are unbanked. Why, in the current world of finance that we are living in, are banking services still inaccessible to some clients? This is because they are underfunded and they tend to use other forms of payment services such as cheque and cash dispensers, payday loans and money orders. While there are traditional financial firms that offer similar services to banks, they charge much higher fees.  

Photo credit: TBIT from Pixabay


Many consumers are underfunded

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