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Notes from the Power of Prepaid Day One

Adam Rust's picture

Posted June 4, 2012

On a per-transaction basis, it currently costs about forty to fifty cents to process a check captured through remote deposit.

One and done is a hard problem, says Steve Streit. Out of 100 cards purchased, half will be used for 2 days, 25 for about five months, and then the rest for about two years. "When a product is placed in a store near a Hershey's

Somalis Protest Closure of Hawalas

Adam Rust's picture

Posted January 13, 2012

Somalis in Minneapolis protested in the streets of St. Paul, angry that local banks will no longer honor hawala transactions.

Minneapolis-St. Paul, a center in the United States for hawala transactions, is the home for many Somalis that want to send money back to their relatives.

A Hawala Dar sending money from Peshawar.

The hawala system allows people to move sums of money across borders with no formal record of any kind. It presents a challenging question. On the face, it seems like a system tailor-made for criminal networks such as Al-Queda. On the other hand, it serves as a substitute mode of money remittance to countries where there is no real banking system.

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