- September 20, 2011
- Global Payments Knowledge
- No Comments
- .com, Contactless, economic turmoil, mobile, NFC, payments, revolution, Virtual Currencies
Payments Industry entering its own “.com” revolution?
At least two fundamentals created the previous “.com” era;
- Ideas abounded on radical ways to capture new opportunities converting to mega revenue and instant large corporations
- Money was cheap and readily available – the investment community had deep pockets and could raise cash readily and at low cost
Despite today’s economic turmoil these circumstances are apparent again: Mobile, NFC, Contactless, Virtual Currencies and many other global payment concepts and company formations arise daily. In the private equity world companies like GTCR, Bain, and Advent to name a few are actively searching and transacting in the payments world.
The exciting mix leads to two obvious conclusions which appear to be powerful enough to resist the generic world downturns: The payments industry will continue to re-invent itself and the power continues to shift to the consumer. Opportunities for us all are plentiful but which solutions will win longer term are less obvious – the key to success is working smartly to ensure we are well positioned to be able to adapt quickly to turn opportunity into result.
Summer is now a distant memory and 2012 budgets are actively being shaped for an exciting year to come