Alex, Zelle is a formation of banks to protect bank ownership of the customer. They can offer $0 fee xfer for P2P + P2B.
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Replying to @RAlexJimenez @JimMarous and
Alex, ahh. Got ya. $0 cost to all participants. Banks in Zelle see no deep costs to move funds. Thus they can loss leader it as a perk.
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Replying to @BrianRoemmele @JimMarous and
This isn't free for any banks. There's nothing banks do that is free to them. Banks aren't charging customers.
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Replying to @RAlexJimenez @JimMarous and
Alex, indeed. I agree. The fundamental here is that in the market they own the house advantage. It is "on us" Cash movement.
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Replying to @BrianRoemmele @JimMarous and
"On Us" isn't exactly equal across the industry.
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Replying to @RAlexJimenez @JimMarous and
Alex, indeed. This is the opportunity.
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Replying to @BrianRoemmele @JimMarous and
It's just another effort from the banks to make themselves into the utility that they wish not to become.
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Replying to @RAlexJimenez @JimMarous and
Alex, no doubt. This journey banks are on will lead them around and around to wind up to utility. But they can be more.
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Replying to @BrianRoemmele @JimMarous and
The only thing it's aimed to do is to fight
@venmo.1 reply 0 retweets 1 like
Alex, the tragedy of group-think reactionary thinking by bank execs, I agree. However there is a possibility for this to shift.
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