The fintech could be used to deliver the cash faster and help facilitate payments to those without bank accounts. Data from the Federal Reserve indicates 14% of Americans earning less than $40,000 per year do not have access to a bank account.
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Fintechs, like Cash App and Venmo, that support “biometric security” have been in talks with the U.S. Treasury Department to work on using the technology to help deliver economic stimulus payments. So reports Biometric Update.
The fintech could be used to deliver the cash faster and help facilitate payments to those without bank accounts. Data from the Federal Reserve indicates 14% of Americans earning less than $40,000 per year do not have access to a bank account.