Everyone at LevelUp dreams big. It’s our job to think outside the box. And we have many exciting goals in front of us. But one rises above all others. That primary goal is summed up in two words: Interchange Zero.
Interchange zero is the theory that the cost of moving money will eventually converge to zero. Right now, the cost of moving money is anything but zero. You might not think about it, but each time you swipe a credit or debit card, the business pays anywhere from 3-10% to the big card companies and banks. It might not sound like a lot, but across the economy, that adds up to 50 billion dollars a year. And while the business actually pays the fees, in the end they get passed on to you, the consumer. This 50 billion dollars is friction in the economy, making moving money more expensive and slowing growth.