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It seems extra crazy for the education market, considering that the people taking out and paying off college loans today don’t rely much on checks and don’t see paper in their future – in fact, they don’t even see it in their present. In Q3 2019, credit card issuer JCB International Co., Tuition Goes to Grad School.
We could kill the check – and the checks rails that exist to support them. Just because checks have existed since at least 13th century Venice and 19 billion of them were used to pay people and businesses in the U.S. Checks, on the other hand, serve no useful purpose. The path to faster payments in the U.S. Yeah, right.
Innovative ideas are inspired by smart people who see problems and have the conviction, capital and courage to come up with new ways to solve for them. Take faster payments. One such innovator recognized the vast commerce potential that could be unlocked if new technologies were used to move money and messaging between people in near real-time.
In fact, it’s not surprising at all that Revolution Money pretty much fizzled not long after the checkcleared to the PR firm that wrote that September 2007 press release. Pay attention now because this is going to be absolutely, positively revolutionary. And it’s going to shake the payments industry by its ankles. What is it you ask?
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