Mobile payments threaten retail banks / credit cards
Patrick Dixon on YouTube - New YouTube Videos
New non banking payment systems using RFID, mobile devices, personal organisers, mobile phones. Remittances, ticketing, retail payments, passports and travel documents. Paying bills, foreign currency transactions, loan agreements. End of back-end processing for banks. End of credit cards and direct debit cards. Pre-approved loans for purchased goods. Loyalty fees and other transaction payments could create consumer revolution. Threat to traditional retail banking. Will use biometrics finger print recognition to validate secure payment transactions. Opportunities for innovation: cross-selling insurance, download mobile applications and other financial services products. O2, Vodafone, AT&T, Sprint, Orange, MTN and other major telecom / technology / media and communication companies have big opportunity to become financial services organisations, giving many handsets, devices and services for free in exchange for financial transactions. Opportunities for marketing, advertising and strengthening customer relationships, brand and corporate image. Lecture by physician and futurist keynote conference speaker Patrick Dixon for 2008 Stein Am Rhein leadership summit - facilitated by Professor Prabhu Guptara.| < Prev | Next > |
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