Relay is confident that the models that have worked for it so far it says it earns a net positive cash flow per transaction, though the company is not yet profitable will continue to work in Washington and Baltimore, where the new funding will help build scale, as well as help the company expand its presence on mobile.
Greater scrutiny of correspondent banking networks of Iranian and other targeted banks, as well as the external banking relationships of larger state-owned enterprises, would broaden the financial net considerably and result in higher transaction costs and outright disruptions of these vital "life-support" components.
The payment network charges the bank a very small transaction fee for using the network, but net they are essentially letting the bank make the most from the interchange fee, hence the banks are on the subsidy side.