Payments On Fire

In our payments education workshops, we make the point that today’s fintechs rarely do something entirely new. At the macro level, our activities and the transactions they produce haven’t changed. We buy food and clothing. We pay rent. But where and how we do these things has been transformed by technology. A Great Time to Be a Fintech Fintechs are the newer, nimbler businesses that are most often changing how we do things. We buy tickets online, get takeout using our mobile phones, and file insurance claims via an app. Fintech entrepreneurs are busting old processes with much improved user experiences and “value for money” propositions. It’s a great time to be a fintech. The building blocks are in place. Powerful cloud-based capabilities are common. APIs connect these tools. Rich data and machine learning generate specific, actionable insights. iOS and Android give smartphones super powers. Business models like payment facilitation help some fintechs. You can even become a bank. Multiplayer Fintech Builds a