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12/29/2021

2022's Next Big Thing: Solving the ‘Money Mobility’ Problem

PYMNTS.com

The great digital shift may be upon us, but money has a problem simply getting around.

Drew Edwards, CEO of Ingo Money, says solving the “money mobility” issue will be key for providers in 2022 and beyond.

Right now, we’re in the tech-enabled equivalent of the banking days of yesteryear, where individuals held accounts at various institutions and moved money by getting cash from, say, their BofA ATM and bringing it to the Citi teller counter to deposit funds there.

“Now we’ve got a phone full of accounts,” Edwards told PYMNTS’ Karen Webster. There are accounts for sports betting, PayPal,  banks and even crypto. Oh, and there are the paper checks that still arrive in mailboxes, of course.

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