Tapping The Unbanked Market

TrustCash · 2011-10-29, 09:09 AM

Here's an article that's slowly becoming relevant in today's market. It's about servicing a part of society who have no bank accounts or have no access to credit. If banks are going to those unbanked and underbanked, should online businesses and even porn, be far behind?

By Martha C. White | June 6, 2011 |

"During the recession, the number of people categorized as unbanked — without a checking or savings account — or underbanked — without access to credit — increased. In a new study, consulting firm KPMG suggests that banks can make money from this group, not by bringing them back into the financial mainstream, but by offering them “alternative” products like prepaid debit cards and money orders.

Banks aren’t the only ones seeing a potential market in the unbanked. Some big-box retailers have begun offering bank-like services, letting customers cash a check or pay a utility bill."

Read more here: http://moneyland.time.com/2011/06/06...unbanked-next/

tickler · 2011-10-31, 09:03 AM

I seem to recall that the USA banks cuts credit limits by almost $1 trillin, and outrght canceled over 100+ million credit cards during the recession!

2011-10-29, 09:09 AM	#1
TrustCash I'm going to the backseat of my car with the woman I love, and I won't be back for TEN MINUTES Join Date: Jul 2011 Posts: 89	Tapping The Unbanked Market Here's an article that's slowly becoming relevant in today's market. It's about servicing a part of society who have no bank accounts or have no access to credit. If banks are going to those unbanked and underbanked, should online businesses and even porn, be far behind? By Martha C. White \| June 6, 2011 \| "During the recession, the number of people categorized as unbanked — without a checking or savings account — or underbanked — without access to credit — increased. In a new study, consulting firm KPMG suggests that banks can make money from this group, not by bringing them back into the financial mainstream, but by offering them “alternative” products like prepaid debit cards and money orders. Banks aren’t the only ones seeing a potential market in the unbanked. Some big-box retailers have begun offering bank-like services, letting customers cash a check or pay a utility bill." Read more here: http://moneyland.time.com/2011/06/06...unbanked-next/ __________________ Trust in Trustcash

2011-10-31, 09:03 AM	#2
tickler If there is nobody out there, that's a lot of real estate going to waste! Join Date: Dec 2003 Posts: 2,177	I seem to recall that the USA banks cuts credit limits by almost $1 trillin, and outrght canceled over 100+ million credit cards during the recession! __________________ Latina Twins, Solo, NN, Hardcore Latin Teen Cash