Banking as Plumbing: Dumb Pipes or Smart Infrastructure - Part 2/2

In Part 1 (Read here) of this series, we saw how banks provide the necessary but barely sufficient infrastructure for moving money, especially when newer methods and experiences are involved. The prepaid industry has benefitted from this long tail of financial services innovation primarily because there have been no other practical options to tap into the banking infrastructure.

Of course, the prepaid industry cannot be blamed for the lack of other options. The fear of cannibalization, the paranoia of ...

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