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Off topic, I keep coming across so many fintech startups whose product just seems to be a debit card end of the day. What is the business model here and why wou

• villasv 4y ago
  The card is just the gateway. All of these startups eventually expand into more profitable products later on. As a customer, it’s just a matter of trying something modern - which should mean a better digital-first experience, but not always.
• ferrisford 4y ago
  As a consumer they're hoping to interest you with better technology, usually a better mobile app experience. The business model is to partner with a smaller bank and earn credit card like interchange income on debit card transactions due to the Durbin amendment. No other business model needed if you can get a bunch of consumers using a debit card. This applies to U.S. fintech's offering debit cards anyway. https://tanay.substack.com/p/fintech-and-regulatory-arbitrage https://tanay.substack.com/p/fintech-and-regulatory-arbitrag...