As several articles might have pointed out, innovative payment solutions are becoming
increasingly popular since they are a boon for unbanked customers. One
of the reasons why they cannot benefit from banking services is because these
firms require them to maintain a minimum balance to avoid fees. As it
turns out, younger clients or immigrants who are just starting out do not have
the extra cash for this. So, they choose not to open a bank account
altogether. Thus, they turn to alternatives provided by fintech firms.
Photo credit: Tumisu from Pixabay
Fintech
offers alternatives for unbanked customers
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