Innovative Payment Solutions Inc (IPSI)

[Renegades17]

Atlanta Fed on the importance of addressing the last mile problem for the unbanked



The Atlanta Fed is a branch of the Federal Reserve that does a lot of important research to inform the Board of Governors. For example, it's the branch of the Fed that puts out updated estimates of quarter GDP growth. Yesterday they posted a research paper that highlights the importance of solving the last-mile problem for the unbanked. This problem refers to the fact that many (5.1% of households or 7.1mm total households) just in the US don't have bank accounts. If you don't have bank accounts, you can't make digital payments through credit and debit cards let alone services like Paypal, Venmo etc. IPSI's payroll and payment solutions help solve this problem though the inclusion of the stablecoin, network of kiosks, digital wallets etc.

Worth taking the time to read the paper. It's brief and to the point.

https://www.atlantafed.org/-/media/documents/research/publications/policy-hub/2021/08/02/09-digital-payments-and-unbanked.pdf