Re:The layoffs at Klarna
by djmips on Sunday August 14, 2022 @01:52PM
(#32461310)
Sounds like the old old SNL skit about banking.
Wikipedia-
"First CityWide Change Bank – Two ads promote a financial institution whose only service is providing change (e.g. "you come to us with 16 quarters, 8 dimes, and 4 nickels, we can give you a 5 dollar bill"). How does First CityWide make money doing this? As one service rep says it, "The answer is simple: Volume"."
Re:The layoffs at Klarna
by Animats on Sunday August 14, 2022 @03:16PM
(#32462049)
That's Coinstar's business model.
They charge a commission now, but originally, they didn't. They pitched the system to stores as a way of freeing up cashier time wasted counting coins.
Wikipedia- "First CityWide Change Bank – Two ads promote a financial institution whose only service is providing change (e.g. "you come to us with 16 quarters, 8 dimes, and 4 nickels, we can give you a 5 dollar bill"). How does First CityWide make money doing this? As one service rep says it, "The answer is simple: Volume"."