- Trends: What do we look for?
- Technology Trend: Cloud Computing
- Industry Trend: Unbundling of banks – Lending Club
- Regulatory Trend: Deregulation – RBI granting banking licenses
- Industry Trend: Immediate everything – Payments
- Market Trend: Branchless Banking
- Market Trend: New Market Entrants
- Market Trend: Banks Extending Their Reach
- Industry Trend: Bank White-Label Services
- Industry Trend: Dual Strategies
- Societal Trend: Exploding Data
- Technology Trend: Banking API’s
- Market Trend: Digital Natives
- Market Trend: Mobile Adoption
- Technology Trend: Digital KYC
- Potential Technology Trend: Internet of Things
- Industry Trend: The Bank Finds You
- Potential Industry Trend: Mobile Wallets Replace Cards
- Industry Trend: Social & Mobile Payments
- Industry Trend: Virtual Currencies
- Industry Trend: Social Finance
- Technology Trend: Big Data
- Potential Industry Trend: Bank as Data Manager
- Technology Trend: WiFi Availability
- Technology Trend: Fast Cycle of Consumer Technology
- Technology Trend: Biometric Authentication
- Industry Trend: Social Servicing
- Industry Trend: Social Reputations
- Market Trend: Increased Substitution with Capital Markets
- Industry Trend: Aggregator / Comparison Sites
Payments is such a hot topic I feel so me-too’sh just mentioning it.
Venmo, (see in app store), provides one-touch payments across multiple applications. The Venmo App eliminates the need for users to enter their payment information on multiple applications. It is an online payments gateway provider that stores consumers’ payment information for future use at those merchants.
I enjoyed the summary in Skinner’s Digital Bank under “Social Money and Payments”. He covers:
- P2P internet payments such as PayPal
- Mobile remittances such as M-PESA
- Long list of long-tail merchant payments such as Square, PayPal Here, Silver, iZettle, mPowa, Payatrader, Intuit GoPayment, Bancard PayAnywhere, Verifone, Payleven and Sumup.
- Payments with mobile wallets such as Google Wallet
- Payments with virtual currencies such as Bitcoin
- Bank social payments such as iDEAL and ePayo.