Monday, March 3, 2014

Live From All Payments Expo & FinTech Partnerships - Evening of Day 1

This evening at All Payments Expo there was an insightful panel - New Tender Types: The Payments Evolution

Ben Milne - Dwolla
John Berkley - Mercury Payment Systems 
Rob Pfeifer - Affirm, Inc

Matt Harris - Bain Capital Ventures

Take Aways: 

"One of the hardest things to do in capitalism is create a new tender type" - Matt Harris

Merchants are worried about user adoption and ROI - needs a high return and low price while being hassle free.

Interchange is a big deal - there is a better way. Big business and small business both need a better way. The internet will eventually replace the card.

Emerging Tender Types Hot or Not:
Bitcoin - will have less than 1% market share in 10 years
Level Up - Focus on merchant and consumer experience merchant funded rewards drives loyalty
Chase Wallet & Merchants - If merchants adopt theoretically it will become a new tender type. 

Be sure to check back tomorrow for more updates on All Payments Expo & FinTech Partnerships! 

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