Paul Schulte, Advisor, Banking and Financial Services
August 22nd, 2019
Paul Schulte is the Founder and Managing Editor of Shulte Research based in Singapore. Paul's roles[...]
Tech’s raid on the banks
The Economist | May 2, 2019
OVER THE past two decades people across the world have seen digital services transform the economy and their lives. Taxis, films, novels, noodles, doctors and dog-walkers can all be summoned with a tap of a screen. Giant firms in retailing, carmaking and the media have been humbled by new competitors. Yet one industry has withstood the tumult: banking. In rich countries it is perfectly normal to queue in branches, correspond with your bank by post and deposit cheques stamped with the logo of firms founded in the 19th century.
See: Why Open Banking Represents a Seismic Shift for Fintech
Yet, as our special report this week explains, technology is at last shaking up banking. In Asia payment apps are a way of life for over 1bn users. In the West mobile banking is reaching critical mass—49% of Americans bank on their phones—and tech giants are muscling in. Apple unveiled a credit card with Goldman Sachs on March 25th. Facebook is proposing a payments service to let users buy tickets and settle bills (see article).
The implications are profound because banks are not ordinary firms. It is one thing for Blockbuster Video to be wiped out by a technological shift, but quite another if the victim is Bank of America. It is not just that banks have over $100trn of assets globally. Using the difficult trick of “maturity transformation” (turning deposits that you can demand back at any time into long-term loans) they enable savers to defer consumption and investment and borrowers to bring them forward. Banks are so vital that the economy reels when they stumble, as the crisis of 2008-09 showed.
Bankers and politicians may thus be tempted to resist technological change. But that would be wrong because its benefits—a leaner, more user-friendly and more open financial system—easily outweigh the risks.
Banking is late to the smartphone age because entrepreneurs have been put off by regulations. And, since the financial crisis, Western banks have been preoccupied with repairing their balance-sheets and old-fashioned cost-cutting. Late is better than never, however. Several new business models are emerging. In Asia payment apps are bundled with e-commerce, chat and ride-hailing services offered by firms such as Alibaba and Tencent in China and Grab in South-East Asia. These networks link to banks but are vying to control the customer relationship. In America and Europe big banks are still more or less in control and are rushing to offer digital products—JPMorgan Chase can open a deposit account in five minutes. But threats loom. Mobile-only “neobanks” that do not bear the cost of branches are nibbling at customer bases. Payments firms like PayPal work with Western banks but are expected to capture a greater share of profits. Lucrative niches like foreign exchange and asset management are being harried by new entrants.
See: Open banking data tapped to speed up laundering checks
The pace of change will accelerate. Younger people no longer stay with the same bank as their parents—15% of British 18- to 23-year-olds use a neobank. Tech firms that people trust, such as Apple and Amazon, are natural candidates to grow big financial arms. The biggest four American banks are spending a total of over $25bn a year on perfecting better customer applications and learning to mine data more cleverly. Venture-capital firms invested $37bn in upstart financial firms last year.
The benefits of technological change are likely to be vast. Costs should tumble as branches are shut, creaking mainframe systems retired and bureaucracy culled. If the world’s listed banks chopped expenses by a third, the saving would be worth $80 a year for every person on Earth. In 2000 the Netherlands had more bank branches per head than America; it now has just a third as many. Rotten service will improve—it is easier to get money to a friend using a chat app than it is to ask your bank to transfer cash. The system will get better at its vital job of allocating capital. Richer data will allow banks to take risks that currently baffle underwriters. Fraud should be easier to spot. Lower costs and the democratising effect of social media will give more people better access to finance. And more firms with good ideas should be able to get loans faster, boosting growth.
Yet change also poses risks. Because the financial system is embedded in the economy, innovation tends to create turbulence. The credit card’s arrival in 1950 revolutionised shopping but also sparked America’s consumer-debt culture. Securitisation lubricated capital markets in the 1980s but fuelled the subprime crisis. In addition, it is unclear who will win today’s battle. One dystopian scenario is that power becomes more concentrated, as a few big banks learn to exploit data as ruthlessly as social-media firms do. Imagine a crossbreed of Facebook and Wells Fargo that predicts and manipulates how customers behave and is able to use proprietary economic data to squeeze rivals.
See: Fintech firms want to shake up banking, and that worries the Fed
Another dystopia involves fragmentation and destabilisation. Banks could lose depositors to untested neobanks, creating a mismatch between their assets and liabilities that could lead to a credit crunch. If bank customers transact via tech or payment platforms, banks could end up with huge balance-sheets but without a direct connection to their clients. If they thus became unprofitable, they could be broken up, with the job of financing mortgages and absorbing short-term savings left entirely to capital markets, which are volatile.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Space | Mike Wall | May 30, 2020 Momentum is building in the private sector We've gotten our hopes up before. The success of NASA's Apollo moon missions half a century ago, for example, made Mars seem very much within reach for human explorers. Indeed, the space agency drew up plans to put boots on the Red Planet by the early 1980s, but shifting political and societal winds killed that idea in the cradle. In 1989, President George H.W. Bush announced the Space Exploration Initiative, which aimed to send astronauts back to the moon by the end of the 1990s and get people to Mars in the 2010s. His son, President George W. Bush, also aimed for a crewed lunar return, with a program called Constellation, whose contours were outlined in 2004. Each program was soon axed by the next administration to come into power. See: Greater Capitalism: How the pandemic is currently reshaping America’s economic system for the better So it's natural for space fans to greet the grand pronouncements occasioned by SpaceX's first crewed launch on Saturday (May 30) with a bit of skepticism. Yes, the Demo-2 mission to the International Space Station (ISS), the first orbital human ...
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Decrypt | Andrew Hayward | May 27, 2020 First came CryptoKitties, and now Dapper Labs is launching a licensed hoops game with potentially massive mainstream appeal In brief NBA Top Shot, a blockchain-based collectibles game, is lauching in closed beta. The licensed game is developed by Dapper Labs, the studio behind CryptoKitties. Top Shot features tokenized NBA highlights and also pairs with a mobile hoops game. CryptoKitties developer Dapper Labs is going big for its latest project: NBA Top Shot, an officially licensed, blockchain-driven collectible game featuring tokenized highlights from basketball’s greatest stars. See: How the Pandemic Is Pushing Blockchain Forward It will be available to play next week, at least to those who registered interest and receive an invitation to the soon-to-be-released closed beta test. “What Top Shot does is it allows fans to buy a piece of the on-court action, actually own it, and then be able to sell it,” Dapper Labs VP of Marketing and Partnerships Caty Tedman told Decrypt. “It creates a new economy around the sport that’s never existed before that we’re particularly excited about.” The tokenized moments arrive as interactive “snapshots of a moment in time,” explained Tedman. They’re multi-faceted, animated widgets of sorts ...
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Raconteur | Marylou Costa | May 28, 2020 Often seen as a nice-to-have, workplace learning and professional development are now gaining importance as organisations’ best shot at retaining happy staff and staying competitive The idea of working from home may conjure up images of dishevelled, tracksuited executives. But the home has actually become the epicentre of a reskilling revolution that may just save businesses from a coronavirus-induced collapse. Corporate learning providers such as LinkedIn Learning, Circus Street and Hive Learning are all reporting a spike in usage, as an overwhelming array of new business challenges puts pressure on teams to embrace remote training methods and professional development. On LinkedIn Learning, more than four million hours of content was consumed globally in March alone. Hive Learning has seen a 20 per cent increase in logins since lockdown began Circus Street has noted not just a 64 per cent increase in weekday learning, but an unprecedented 500 per cent increase on Saturdays Skills gaps that the World Economic Forum had already outlined a need to bridge, such as digital and data literacy, have now become unnegotiable. Meanwhile ecommerce and digital marketing tactics like search engine optimisation and pay-per-click advertising have risen to ...
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Forbes | Glenda Toma | May 28, 2020 Last December, language-learning app Duolingo surpassed the $1 billion valuation mark, becoming the fifth company on last year’s Next Billion-Dollar Startups list to do so. “Once we closed the funding round, a few of us early employees went for drinks and we just remembered all the early days where we had no idea where we were going to go, and we had no idea if this was even going to work out,” Duolingo CEO and cofounder Luis van Ahn tells Forbes in a video interview. Not only did it work out, but Duolingo has been among the companies that have been gaining during the coronavirus pandemic as bored Americans take to learning Spanish, French or the 34 other languages that it offers. Since Forbes published its 2019 Next Billion-Dollar Startups list last summer, 6 out of the 25 companies on the list, including design-software firm Figma, fintech Dave, e-commerce startup Grove Collaborative, as well as Duolingo, have reached a $1 billion valuation. Last December, language-learning app Duolingo surpassed the $1 billion valuation mark, becoming the fifth company on last year’s Next Billion-Dollar Startups list to do so. “Once we closed the funding round, ...
Read More
TFI and InvestHK | May 27 Toronto Finance International (TFI) would like to invite the Canadian FinTech ecosystem to join a presentation with InvestHK and RaceCapital to learn more about funding opportunities, new trends, and market entry to Asia in a post-COVID-19 world. Event Details Date: Thursday, June 11th, 2020 Time: 3:00pm to 4:15pm Location: Video Conference Speakers Chris Chen Head of Investment Promotion - Canada, InvestHK Michal Kaczmarzki Senior Manager, FinTech, InvestHK Edith Yeung General Partner, RaceCapital Agenda: - 3:05 - 3:30pm: Presentation: “Fundraising & governmental support for Fintechs entering Hong Kong” with Chris Chen, Head of Investment Promotion - Canada, InvestHK - 3:30pm-4:00pm: Discussion: Trends & opportunities in Hong Kong, in the post-COVID-19 era with Michal Kaczmarski, Senior Manager, Fintech, InvestHK, and Edith Yeung, General Partner, RaceCapital. Moderated by Chris Chen, Head of Investment Promotion - Canada, InvestHK Q&A to conclude. Register for this free event --> Now The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in ...
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NCFA Canada | Craig Asano | May 27, 2020 NCFA SUBMISSION TO CSA ON PROPOSED HARMONIZED RULES FOR START-UP SECURITIES CROWDFUNDING (NI 45-110) The Canadian Securities Administrators (CSA) are seeking comments on proposed harmonized rules for start-up securities crowdfunding by 27 May 2020. The National Crowdfunding and Fintech Association of Canada (NCFA) welcomes this initiative. The following addresses the specifics of the proposed rules, but please see our previous submissions on crowdfunding in Canada on our website in the advocacy section for more details – https://ncfacanada.org/advocacy/. 1. Harmonization NCFA has argued for many years that CSA crowdfunding rules are unduly constraining, and this enhanced harmonization will enable a greater use of crowdfunding across Canada, help to fill a funding gap, and allow more retail investors to invest in businesses whose purpose they support. 2. Impact of the pandemic on fundraising Today, early stage Ventures are the most likely not to get funded as they lack established relationships with banks (including BDC) and they have been amongst the hardest hit by the pandemic. Many VC funds are moving towards growth equity (later stage) investing and foreign investors mainly invest at later stages. 3. Funding cap While the maximum total amount ...
Read More
Sifted | Tim Smith | May 26, 2020 As coronavirus has forced classrooms around the world to move online, kids are getting creative in trying to sabotage lessons Georgina Farnham, a Barcelona-based English literature and language teacher, was just getting used to the transition to online teaching when, one day, she thought the internet trolls had parked their tanks on her lawn. Farnham was making use of Kahoot!, the Norwegian educational games app, when the sabotage struck. “We were playing a game and it kept just crashing and not giving kids time to answer the questions, and on the leader board, all of these ridiculous names that hadn’t been entered into the game as players were coming up: ‘gayboy27’, ‘Covid-19’ — offensive names,” she explains. See: 58 Must-Read Remote Work Resources | 50 Great Remote Working Resources The kids said it was nothing to do with them, and Farnham got worried: “I thought someone had hacked into our game and was watching us, and I was worried for our cyber security.” Farnham quickly contacted the Kahoot! customer service team to find out what was going on. But the culprits, as it turned out, were closer to home than she had ...
Read More
Koho Release | Brittany Bell | May 27, 2020 TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- KOHO, Canada’s leading challenger bank, today announced it is piloting a new Early Payroll feature that will help those under financial strain pay their bills and make ends meet. KOHO’s Early Payroll pilot will grant users free access to $100 of their CERB payment before the scheduled payday. KOHO will not charge fees or interest. The company hopes this will provide a cushion that many Canadians could use right now to help pay bills and necessary expenses, and avoid harmful loan alternatives. “The economic impact of COVID was not equally distributed,” said Daniel Eberhard, Founder and CEO of KOHO. “A lot of lower and middle income Canadians are vulnerable right now. The KOHO team did an amazing job putting this together so quickly. We hope it helps.” In 2016 the Financial Consumer Agency of Canada released a report on payday loans that revealed the average cost of a $300 loan (for two weeks) is $63. That means 21% of the money you borrow is automatically eaten up by fees. See: Shopify Balance Brings Banking and Cash Flow to Merchants In March, KOHO partnered with ...
Read More
Space | Mike Wall | May 30, 2020 Momentum is building in the private sector We've gotten our hopes up before. The success of NASA's Apollo moon missions half a century ago, for example, made Mars seem very much within reach for human explorers. Indeed, the space agency drew up plans to put boots on the Red Planet by the early 1980s, but shifting political and societal winds killed that idea in the cradle. In 1989, President George H.W. Bush announced the Space Exploration Initiative, which aimed to send astronauts back to the moon by the end of the 1990s and get people to Mars in the 2010s. His son, President George W. Bush, also aimed for a crewed lunar return, with a program called Constellation, whose contours were outlined in 2004. Each program was soon axed by the next administration to come into power. See: Greater Capitalism: How the pandemic is currently reshaping America’s economic system for the better So it's natural for space fans to greet the grand pronouncements occasioned by SpaceX's first crewed launch on Saturday (May 30) with a bit of skepticism. Yes, the Demo-2 mission to the International Space Station (ISS), the first orbital human ...
Read More
Read More
Forbes | Colin Harper | May 17, 2020 Two Canadian Bitcoin companies have partnered up to deliver their clients the world’s first 1:1 insurance on bitcoin and cryptocurrency exchange deposits. Toronto-based cryptocurrency exchange Bitbuy, which offers trading in Bitcoin and 6 altcoins, has just inked a deal with Montreal-based Bitcoin security firm Knox. Through the partnership, Bitbuy will leverage Knox’s custody and 1:1 deposit insurance, making “Bitbuy the world’s first platform to find a way to keep the full value of its bitcoin cold storage holdings insured,” according to a press release. Thibaud Marechal, VP Knox, said that the two companies began kindling their business partnership “in the pit of the [2018] bear market,” originally meeting at a conference in Toronto. “The match felt natural,” Marechal said over email, seeing as the young companies both specialized in complementary piece of infrastructure (trading and security/insurance, respectively). They also align with their vision for how to structure a safe, transparent market structure for buying bitcoin. See: Your Insurance Checklist for Coronavirus Losses “Our two companies are strongly aligned on the direction of the industry, including consumer protection and regulatory advancements,” Adam Goldman, Founder and President Bitbuy, said. “Our partnership is the result ...
Read More
Read More
Decrypt | Andrew Hayward | May 27, 2020 First came CryptoKitties, and now Dapper Labs is launching a licensed hoops game with potentially massive mainstream appeal In brief NBA Top Shot, a blockchain-based collectibles game, is lauching in closed beta. The licensed game is developed by Dapper Labs, the studio behind CryptoKitties. Top Shot features tokenized NBA highlights and also pairs with a mobile hoops game. CryptoKitties developer Dapper Labs is going big for its latest project: NBA Top Shot, an officially licensed, blockchain-driven collectible game featuring tokenized highlights from basketball’s greatest stars. See: How the Pandemic Is Pushing Blockchain Forward It will be available to play next week, at least to those who registered interest and receive an invitation to the soon-to-be-released closed beta test. “What Top Shot does is it allows fans to buy a piece of the on-court action, actually own it, and then be able to sell it,” Dapper Labs VP of Marketing and Partnerships Caty Tedman told Decrypt. “It creates a new economy around the sport that’s never existed before that we’re particularly excited about.” The tokenized moments arrive as interactive “snapshots of a moment in time,” explained Tedman. They’re multi-faceted, animated widgets of sorts ...
Read More
Read More
NCFA Canada | May 29, 2020 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. EP40: Why Bitcoin Exists and Education for the Masses HOST: Manseeb Khan, Fintech Fridays podcast episode GUEST: AUSTIN HUBBELL, Founder and CEO, Consilium Crypto (Linkedin) About this episode: On this episode our host Manseeb Khan sits down with Austin Hubbell from Consilum Crypto. They chat about how quarantine is going, the state crypto and much more. Enjoy! NCFA Canada · EP40 Why Bitcoin Exists, Adjusting to Covid-19 and Education for the Masses with Austin Hubbell BIO: Austin is the CEO and co-founder of Consilium Crypto (https://consiliumcrypto.ai/), a big data company developing institutional grade investment analytics and liquidity access tools for the digital asset markets, helping funds find alpha and place large orders efficiently in times of thin liquidity. With a background in software development and machine learning, as well as previous tech startup experience, Austin brings a skillset balanced between the technology and business worlds. He previously worked with a distributed team based in L.A./San Francisco to build predictive models for crime hotspotting in major US cities, before transferring to the FinTech world to build machine learning based trading systems for currency markets. Enjoy! Subscribe and ...
Read More
Read More
Raconteur | Marylou Costa | May 28, 2020 Often seen as a nice-to-have, workplace learning and professional development are now gaining importance as organisations’ best shot at retaining happy staff and staying competitive The idea of working from home may conjure up images of dishevelled, tracksuited executives. But the home has actually become the epicentre of a reskilling revolution that may just save businesses from a coronavirus-induced collapse. Corporate learning providers such as LinkedIn Learning, Circus Street and Hive Learning are all reporting a spike in usage, as an overwhelming array of new business challenges puts pressure on teams to embrace remote training methods and professional development. On LinkedIn Learning, more than four million hours of content was consumed globally in March alone. Hive Learning has seen a 20 per cent increase in logins since lockdown began Circus Street has noted not just a 64 per cent increase in weekday learning, but an unprecedented 500 per cent increase on Saturdays Skills gaps that the World Economic Forum had already outlined a need to bridge, such as digital and data literacy, have now become unnegotiable. Meanwhile ecommerce and digital marketing tactics like search engine optimisation and pay-per-click advertising have risen to ...
Read More
Read More
Forbes | Glenda Toma | May 28, 2020 Last December, language-learning app Duolingo surpassed the $1 billion valuation mark, becoming the fifth company on last year’s Next Billion-Dollar Startups list to do so. “Once we closed the funding round, a few of us early employees went for drinks and we just remembered all the early days where we had no idea where we were going to go, and we had no idea if this was even going to work out,” Duolingo CEO and cofounder Luis van Ahn tells Forbes in a video interview. Not only did it work out, but Duolingo has been among the companies that have been gaining during the coronavirus pandemic as bored Americans take to learning Spanish, French or the 34 other languages that it offers. Since Forbes published its 2019 Next Billion-Dollar Startups list last summer, 6 out of the 25 companies on the list, including design-software firm Figma, fintech Dave, e-commerce startup Grove Collaborative, as well as Duolingo, have reached a $1 billion valuation. Last December, language-learning app Duolingo surpassed the $1 billion valuation mark, becoming the fifth company on last year’s Next Billion-Dollar Startups list to do so. “Once we closed the funding round, ...
Read More
Read More
TFI and InvestHK | May 27 Toronto Finance International (TFI) would like to invite the Canadian FinTech ecosystem to join a presentation with InvestHK and RaceCapital to learn more about funding opportunities, new trends, and market entry to Asia in a post-COVID-19 world. Event Details Date: Thursday, June 11th, 2020 Time: 3:00pm to 4:15pm Location: Video Conference Speakers Chris Chen Head of Investment Promotion - Canada, InvestHK Michal Kaczmarzki Senior Manager, FinTech, InvestHK Edith Yeung General Partner, RaceCapital Agenda: - 3:05 - 3:30pm: Presentation: “Fundraising & governmental support for Fintechs entering Hong Kong” with Chris Chen, Head of Investment Promotion - Canada, InvestHK - 3:30pm-4:00pm: Discussion: Trends & opportunities in Hong Kong, in the post-COVID-19 era with Michal Kaczmarski, Senior Manager, Fintech, InvestHK, and Edith Yeung, General Partner, RaceCapital. Moderated by Chris Chen, Head of Investment Promotion - Canada, InvestHK Q&A to conclude. Register for this free event --> Now The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in ...
Read More
Read More
NCFA Canada | Craig Asano | May 27, 2020 NCFA SUBMISSION TO CSA ON PROPOSED HARMONIZED RULES FOR START-UP SECURITIES CROWDFUNDING (NI 45-110) The Canadian Securities Administrators (CSA) are seeking comments on proposed harmonized rules for start-up securities crowdfunding by 27 May 2020. The National Crowdfunding and Fintech Association of Canada (NCFA) welcomes this initiative. The following addresses the specifics of the proposed rules, but please see our previous submissions on crowdfunding in Canada on our website in the advocacy section for more details – https://ncfacanada.org/advocacy/. 1. Harmonization NCFA has argued for many years that CSA crowdfunding rules are unduly constraining, and this enhanced harmonization will enable a greater use of crowdfunding across Canada, help to fill a funding gap, and allow more retail investors to invest in businesses whose purpose they support. 2. Impact of the pandemic on fundraising Today, early stage Ventures are the most likely not to get funded as they lack established relationships with banks (including BDC) and they have been amongst the hardest hit by the pandemic. Many VC funds are moving towards growth equity (later stage) investing and foreign investors mainly invest at later stages. 3. Funding cap While the maximum total amount ...
Read More
Read More
Sifted | Tim Smith | May 26, 2020 As coronavirus has forced classrooms around the world to move online, kids are getting creative in trying to sabotage lessons Georgina Farnham, a Barcelona-based English literature and language teacher, was just getting used to the transition to online teaching when, one day, she thought the internet trolls had parked their tanks on her lawn. Farnham was making use of Kahoot!, the Norwegian educational games app, when the sabotage struck. “We were playing a game and it kept just crashing and not giving kids time to answer the questions, and on the leader board, all of these ridiculous names that hadn’t been entered into the game as players were coming up: ‘gayboy27’, ‘Covid-19’ — offensive names,” she explains. See: 58 Must-Read Remote Work Resources | 50 Great Remote Working Resources The kids said it was nothing to do with them, and Farnham got worried: “I thought someone had hacked into our game and was watching us, and I was worried for our cyber security.” Farnham quickly contacted the Kahoot! customer service team to find out what was going on. But the culprits, as it turned out, were closer to home than she had ...
Read More
Read More
Koho Release | Brittany Bell | May 27, 2020 TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- KOHO, Canada’s leading challenger bank, today announced it is piloting a new Early Payroll feature that will help those under financial strain pay their bills and make ends meet. KOHO’s Early Payroll pilot will grant users free access to $100 of their CERB payment before the scheduled payday. KOHO will not charge fees or interest. The company hopes this will provide a cushion that many Canadians could use right now to help pay bills and necessary expenses, and avoid harmful loan alternatives. “The economic impact of COVID was not equally distributed,” said Daniel Eberhard, Founder and CEO of KOHO. “A lot of lower and middle income Canadians are vulnerable right now. The KOHO team did an amazing job putting this together so quickly. We hope it helps.” In 2016 the Financial Consumer Agency of Canada released a report on payday loans that revealed the average cost of a $300 loan (for two weeks) is $63. That means 21% of the money you borrow is automatically eaten up by fees. See: Shopify Balance Brings Banking and Cash Flow to Merchants In March, KOHO partnered with ...
Read More
Read More
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