SCOTT GALLOWAY: No industry is more ripe for disruption than banking, and this herd of upstart unicorns is ready to trample the establishment (via ProfGalloway)
Unicorns are also coming for payments. The megasaurus in this space is PayPal, which has built the first global payments platform outside the credit card model and is second only to Visa in payment volume and revenue. Square's Cash app is capturing share, and Apple Cash is also a player, as it's … Apple.Square, Apple, and a host of other companies are taking the"partnership" approach, bolting new services onto the existing transaction infrastructure.
The Big Four credit card system operators are still the dominant payment players, and they have deep moats. Their brands are global, their networks robust. Visa can handle 76,000 transactions per second in 160 currencies, and as of this week it had settled Still, even the king of payments sees dead people. In 2020, Visa tried to buy Plaid for $5.3 billion. Plaid currently helps connect existing payments providers to finance software such as Quicken and Mint.
as an"insurance policy" to neutralize a"threat to our important US debit business." In an encouraging sign that American antitrust authorities are stirring, the Department of Justice filed suit to block the merger, and Visa walked.Fintech is also coming for investing with online trading apps and through the crypto side door . Insurance is under threat from companies like Lemonade , Ladder , and Root .
In sum, fintech is likely as underhyped as space is overhyped. Why? The ROI on your professional efforts and investing are inversely proportional to how sexy the industry/investment is, and fintech is … boring. Except for the immense opportunity and value creation — for multiple stakeholders."Half the world is unbanked, but we need to colonize Mars," said no rational investor ever.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scott Disick's girlfriend Amelia Hamlin's dad 'wary' of couple's 18-year age gapKeeping Up With The Kardashians star and father-of-three Scott Disick is 38 and in a relationship with 20-year-old model Amelia Hamlin
Read more »
Harry Hamlin Shares Thoughts on Daughter Amelia Dating Scott Disick, Calls Age Difference 'Odd''How do you feel? Just tell them,' Lisa Rinna asks her husband to open up with her 'Real Housewives of Beverly Hills' co-stars.
Read more »
Amelia Hamlin Reveals What She and Scott Disick's Daughter Like to DoThe 20-year-old model commented on her boyfriend's post in honor of his daughter's ninth birthday.
Read more »
Lisa Rinna's husband, Harry Hamlin, shares feelings on daughter dating Scott DisickThe reality star revealed what he really thinks about the couple's 18 year age difference.
Read more »
From Scott Disick to Saweetie, Here's Everything You Need to See in Maluma's 'Sobrio' VideoMaluma released today (July 8) his new single titled 'Sobrio,' along with a music video that features cameos by Scott Disick and Saweetie, among others.
Read more »
Harry Hamlin Calls Scott Disick Dating His 20-Year-Old Daughter 'Odd'Harry Hamlin's take on Scott Disick dating his 20-year-old daughter is very interesting, because he's sort of been in Amelia's shoes.
Read more »