Oyin Adedoyin

speaker

1,572 appearances 36 recordings 1 series first heard Mar 2023 last heard Feb 2025

Oyin Adedoyin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Paying in Cash Could Cost You Extra · 7 Jun 2024 podcast

It's fascinating. voice-verified

So I spoke to the provider of a reverse ATM, and it's basically— A reverse ATM? voice-verified

Yes, you heard me correctly. voice-verified

It's not necessarily a new thing, but it's definitely gaining more traction in recent years, especially since the pandemic, as more businesses are choosing to go cashless. voice-verified

So it's essentially a kiosk, similar to an ATM, where people put in physical money, like 20s or 50s or $100 bill, for instance— voice-verified

And they get out a prepaid card. voice-verified

This can be a Visa card or some kind of essentially a debit card where the money they put in is already preloaded and they can start spending it wherever they need to. voice-verified

It's not so much that the trend is shifting as that there is apparently a counter trend happening at the same time. voice-verified

So for some businesses, it is more cost effective to avoid those credit card processing fees and just take cash. voice-verified

But for other businesses, it's more of a hassle. voice-verified

And so they're cutting that part completely out. voice-verified

And where some businesses are outsourcing that option to reverse ATMs, others are using services like a Pay Near Me service. voice-verified

And that's where someone can go to a local convenience store or a grocery store or 7-Eleven and pay a bill, including a parking ticket, a toll, or even their rent with cash through a printed barcode that they get. voice-verified

And that's because their landlord or any particular business has partnered with this Pay Near Me service to accept the payment that way. voice-verified

I spoke to some of the providers of these reverse ATMs and pay-near-me services, and they said that there's always a fee associated with these transactions. voice-verified

And that fee can range anywhere from $1 to $6. voice-verified

Now, depending on whether or not a consumer is going to be charged that fee, it depends on the state that they live in and the business. voice-verified

Some businesses choose to absorb the fee, so the consumer doesn't see it at all. voice-verified

But most businesses don't, and they pass on at least some of the fee or all of the fee onto the consumer. voice-verified

WSJ Your Money Briefing · Gen Z Is Falling Deeper Into Debt · 9 May 2024 podcast

During the pandemic, many people got wealthier.

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