A Pew study showed that most consumers are indifferent to the idea, but 64 percent of those in the target market (i.e., the un- and underbanked) favor it.
A new research paper by three economists predicts that the little guy will shell out more money as FIs seek relief from the revenue-slashing effects of the interchange cap.
The company's mobile wallet, which combines telecom and payment services, is crossing over to the ATM market to provide card-free cash access at PayToo-enabled Genmega ATMs.
'Kicked the bucket? Shuffled off the mortal coil? Joined the choir invisible?' Not the essential, adaptable ATM.
“There needs to be a move beyond cash in order for the vast majority of the people in the world to become full working participants in, and beneficiaries of, the economic system,” said Leland Englebardt, group head, global network products...
An ex-employee sued McDonald's claiming that its policy of paying unbanked employees' wages via prepaid meant that her income was eaten up by card fees. A panel of payments experts tackles this difficult issue at the ATM & Mobile Executive Summit in Washington, D.C.
Now offering FDIC insurance and paper checks, the prepaid is looking like an online bank with ATM branches.
As the underbanked increasingly choose prepaids for their money management needs, new opportunities arise for the ATM industry.
The up-and-coming nation has ambitious plans for improving its current ATM-to-citizen ratio of 1:13,333.
ATMs, mobiles and kiosks play nicely together, enabling financial inclusion in developing countries.