Financial technology firm Wise has adjusted its pricing strategy for international money transfers. According to recent reports, the company is lowering the costs associated with its core transfer services, opting instead to generate revenue through its card products and related payment features.
This shift reflects a broader trend in the digital payments sector, where providers seek to maintain competitiveness in exchange services by rebalancing fee structures across their wider ecosystem of financial products. By reducing transfer fees, Wise aims to attract and retain users, while utilizing its card service offering to capture ongoing transaction-based revenue.
As these developments involve ongoing business strategy, stakeholders continue to monitor how such changes impact the company’s overall unit economics and its competitive positioning against traditional banking institutions and other digital transfer providers.
Source: Finextra
Original article: https://www.finextra.com/blogposting/33256/wise-is-cutting-its-transfer-price-and-making-it-back-on-cards?utm_medium=rssfinextra&utm_source=finextrafeed
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