Digit is not the first fintech company to change its pricing model after gaining traction.
AI-powered personal savings app Digit announced a few weeks ago that they would start charging a monthly fee of $2.99. In its announcement, the company explained it was transitioning away from a freemium model that sells customer’s data to third parties (a common free fintech services tactic) to a SaaS model with clearer pricing and more direct monetization.
According to our company profile performance tab, customer reaction was immediate. Digit’s Twitter mentions spiked right after the announcement, peaking at over 2000 mentions per week (up nearly 10x from Digit’s normal average of 200-300 mentions per week). But very quickly, Twitter mentions again slipped to within the normal range.