According to The World Economic Forum, 1.7 billion adults don’t have access to bank accounts. Since starting at MasterCard in 2001 and throughout my time at Citi and American Express, I’ve seen “the unbanked” on almost as many slides as “data”. Both, were supposedly huge, untapped opportunities. (And at ruthlessly pragmatic financial firms, they shared the […]
Do The Poor Need Bank Accounts…Or Something Else? Read More »
Every business has at least one growth spurt left. And it shouldn’t feel like racing Usain Bolt after six hours at Cheesecake Factory. Most businesses immediately turn to the most obvious places: new products, services or markets. But these generate less enterprise value than customer experience, platforms, technologies, new business models, and superior service. Even existing assets can deliver more growth.
There has never been a more exciting time in payments. Let me re-phrase that. There has never been an exciting time in payments. But if you read tech blogs lately, you’d think we were moments away from revolution. Unless the oppressed proletariat can pay with iPhones, they’ll start pummeling Nobu waiters with pearl-encrusted Prada bags.
Deconstruction of Apple Pay and the many unexpected deals its success will unleash. My old colleagues at American Express and MasterCard might not be thrilled.
Part II – Deep Dive: Apple Pay and The Strange Bedfellows Analysis [Patreon-Only] Read More »
With rabid coverage on every major tech site, only Turkish prisoners and my parents could have missed the most important product launch in startup history. No, it wasn’t a cure for cancer or even irritable bowels . It was Coin. What is coin? As if you didn’t know… It’s an electronic payment card that stores
My business is helping companies speed up innovation – often by partnering with tech startups. A wilder ride compared to my days leading innovation at Fortune 100 companies. But lately, I’ve experienced enough déjà vu to get a platinum medical marijuana card. Maybe you’ve heard of “multiple discovery”. The theory says that similar inventions happen simultaneously because
10 New Rules for Mobile Payments and Loyalty Startups Read More »
This week’s episode of Ideafaktory Radio is the first of a three part series with Forbes contributor and Social Enterprise guru Mark Fidelman. This wasn’t even meant to be recorded! Mark deviously taped our private conversation on his iPhone and captured the two of us brawling over the future of apps, among other issues that
Old IdeaFaktory Podcast #2: Brawling over The Great App Shakeout Read More »
Having led innovation at Amex, MasterCard and Citi, I know where the bodies are buried. I also know that payment wars aren’t just about fees anymore. That’s so 1990’s. Years ago, when Walmart threatened to enter payments and banking, incumbents nearly soiled their Hanes. After a little sword-fighting, providers slashed their margins so thin, big
Why Walmart and Other Retailers Are Muscling in on Mobile Payments Read More »