Attracting new prospects is a challenge because many companies constantly market to the same people based on their credit histories. What many companies miss, however, are potential customers who use only cash for their purchases and have no credit history.
InfoBase-X CashTransactors provides an easy-to-implement method for recognizing and reaching out to these potential customers. Using data from InfoBase-X, the largest collection of U.S. consumer information available in one source, CashTransactors makes it possible to reach households with rising incomes but no formal banking relationships.
Because they rely on cash transactions to pay for most of their goods and services, households in this group often do not appear on credit bureau records. But these consumers represent a significant untapped opportunity, as many of them are seeking to establish credit and improve their financial situation.
Companies that successfully market to this group of consumers create relationships with a potentially large base of new customers, many of whom may be excellent candidates for prepaid services, wire transfers and other banking services.
CashTransactors helps companies reach new prospects by providing:
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