In TransferWise's full annual report released this September, Mission Zero was stated as:
"....our mission to bring the cost of sending money around the world to near zero."
TransferWise has previously said it wants to be a profitable business. We read the goal of zero cost transfers to really be in line with the statement above. As TransferWise said back in early 2018,
"The price of money transfers should drop to zero, but it happens only as fast as the
costs move to zero."
With an industry leader pushing for such tight margins and focusing on volume, what impact will this strategy have on the rest of the sector? At what point might TransferWise's low-cost push start pulling margin from a higher-end focused player like Currencies Direct?
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