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Image source: Getty Images When Costco raised the cost of its membership fees in September, it wasn't particularly surprising. The warehouse club titan was overdue for an increase seeing as how it hadn't made any changes to its feestructure since mid-2017. The answer?
Costco is actually overdue for a membership fee hike. And so it wouldn't be surprising to see the warehouse club giant make changes to its feestructure before 2023 comes to a close. Members should brace for a fee hike, though it's not guaranteed The last time Costco raised fees was June 1, 2017.
Not really hyper-focusing on a feestructure. If you hyperfocus on a feestructure, then there are some competitors that look cheaper than Adyen at first sight, but they potentially aren't in that total yearly stream of payments and all the associated activities going over the payments platform.
And that is why you’re seeing the massive increase in multi manager assets and those assets have more than doubled since 2017. You have to have a truly align feestructure and you have to kind of be willing to go down that road. If you look at some of the top launches that are coming out in 2023, ILX and free stone.
However, to be clear, we did not make any material changes to our feestructure in Q4. And the blended average fee rate that you see reported is simply due to mix shift on our platform. The US has been losing 2% of blockchain developer share annually since 2017. Now turning to subscription and services revenue.
We have saved customers hundreds of millions of dollars by disrupting the traditional remittance industry with a digital-first approach, transparent feestructure, and customer-centric innovations. And she signed up in 2017. We are not merely strengthening our position, we are setting new industry standards.
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