Technology, Banking and The Small Business Owner
Dear Entrepreneur,
The pandemic seems to be the most horrid event during this century and the most valuable disaster as well. What a duality. Fintech banking institutions are not new. It is my opinion that PPP loans distribution showed the business disrupters that there are holes to be filled and they are called “service to small businesses”. During the Super Bowl LV aired February 2021, Varo bank advertised and their portfolio increased tremendously. The reason for this article, is to announce that Square that owns cashapp now has a small business bank. There is no minimum deposit or monthly balances and as a gold star banking opportunity for startups and small businesses operating on a shoe string. This may not be the best news for the large traditional institutions such as Citibank, Chase Manhattan and Wells Fargo because deposit accounts matters to all banks.
As of the writing of this letter to you, Square is rumored to be buying Australia’s Afterpay, Ltd. which will place them in the buy now pay later space.
Keep your eyes open. Alas you might be getting viable options to thrive and not just survive in the business world.
When Lions Dream
Alicia.
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Ms. Phidd is a nonfiction author, podcaster and spoken word artist. Ms. Phidd is available for speaking engagements. You may contact her directly for the onesheet. She will be headlining at When Lions Dream Empowerment and Entertainment Event in 2022. Get on her V.I.P. List here.
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