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.
Alex, indeed, the question can also be stated why should Apple make it easy on Banks. This has been the Apple Pay story since the start.
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Apple is hardly the concern here. The concern is that banks continue to lose the story of what value they bring.
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Alex, fully agree. We can build abstractions layers onto of “dumb pipes” like Steve did for the iPhone. Cell companies survived, banks can.
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