Unbanked opportunity

“With Citibank as a guide, Digital Wallets could generate tens of billion dollars in market cap by offering basic checking account services profitably to the unbanked.”

“Enabled by low customer acquisition costs, Digital Wallets should be able to serve the unbanked. With 15 million monthly active users Square’s (SQ) Cash App already is leading the way in serving the financially underserved, while PayPal’s (PYPL) Venmo counts over 40 million annual active users and Apple (AAPL) is expanding its Digital Wallet, the Apple Wallet.”

A seismic shift from traditional bank accounts to digital wallets seems inevitable.

Unbanked, While Traditional Banks Cannot

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