Quote:
Originally Posted by signupdamnit
Woah there! Please elaborate on this part.
|
Sure, we are on own ICA/BIN from October which means that we can acquire and issue MasterCards. That will result in own BINS where we have full control over the money flow, but this also means that we take all the risk, therefore the 5% reserve.
We know that many clients have enjoyed the flat 4.9% over the last 3 years. But we have always told the market that this is our way to penetrate the market, now it is penetrated and we have to gear up with better support, better system and features, as demanded.
Most of the close clients I talk to knew that an increased rate would come.
We will still have the lowest rates in the industry, by half, 10-15% compared to 5-10! And we have a very developed system for your needs, and there will be much more to it this year.
However we should get the price for ?bad timing? when we announce the new rates and reserve the same time we had delays with payouts.