Posts Related To Underbanked


9 Myths About the Underbanked – Debunked

underbanked consumers What you don’t know about your underbanked customers could be hurting you – and your bottom line. If you’ve overlooked cash-preferring customers because of time constraints, overhead, or other concerns, you’re missing out on $1 trillion in buying power. We’ve made a short list of the most common misconceptions (and facts) about the underbanked to

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Communication, Education & Accuracy – Lessons from the Post-Enrollment Operations for Health Insurance Exchanges Summit

doctor holding smartphone with medical app With a host of stakeholders that range from government agencies and insurance carriers to health-care providers and consumers, ACA reform can only be successful if all parties adhere to the three pillars of working with entities of different agendas: communication, education and accuracy of information. The 3 Pillars 1) Break down communication barriers across divisions

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Who are Millennials and Why do They Matter to Auto Lenders?

millennials When thinking about a typical auto buyer, Millennials (aka “Generation Y”, or those born between 1980 and the early 2000s) don’t typically come to mind. So why are they such a hot topic in the auto-lending industry? Millennials already comprise 25 percent of the population today, and they will be the majority of the U.S.

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How changing your collection methods can improve cash flow

improving cash flow Maximizing profits was the theme for this year’s EUCI 12th Annual Credit & Collections conference in New Orleans, which I attended with Tim Fox, our national sales manager for the utility and municipality business unit here at PayNearMe. But official theme or not, maximizing profits has always been a focus for municipalities and utility companies

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Cash is Still King

hands exchanging cash A new Federal Reserve report dispels the myth that cash is dead. There are between 60 million and 100 million cash-preferring consumers in the U.S. That’s about the population of the nation’s four largest states – California, Texas, New York and Florida– combined. In April, the Federal Reserve released a paper called the “Diary of Consumer Payment Choice”

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Cash: Rumors of its death are greatly exaggerated

hands exchanging cash Lee Ault, CEO of the first check guarantee service, TeleCredit (which subsequently morphed into FiS Global), once described the moment his business exploded in the early 1970’s. In this era before ATMs, and when BankAmericard –-not yet renamed “Visa” -– was approaching critical mass, retailers avoided accepting personal checks because they were considered too risky.

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