Hello, my name is Faisal Khan. I’m a banking and payments consultant. And the question I’m answering today is what is a corridor killer.
A corridor is defined as the path between two countries descending country and the beneficiary country for remittances. So
A corridor killer is not some person who’s got a knife and stabbing people that would be absolutely incorrect. A corridor killer is someone who specializes; a company that specializes in that particular corridor.
Let’s take an example: USA to Brazil. A corridor killer from U.S.A to Brazil would be a would be a company that has the lion’s share of the revenue stream going in this particular corridor. They give, probably the best price; they’re very difficult to compete with; they have the best customer service; they are excellent in all facets. Corridor killer gives even large incumbents like Western Union and Money Gram and the the new the likes of Transferwise or Remitly or Xoom a very difficult time.
So a corridor killer is extremely difficult to beat. They are very very well positioned. So if you are entering a market it is always a good thing to see how you will compete against a corridor killer. What sort of work will you be doing. What sort of a strategy will you be employing. What is your differentiator that would allow you to take the market share away from that. And remember corridor killers are a very very tough competition to beat.
They are extremely competitive. They can drive prices down and put you out of business. So that’s what a corridor killer is, an entity that specializes and rules a market in a very particular remittance corridor.
If you have any more questions, feel free to ask below. Till next time, have a good one.