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Apple’s “Tap to Cash” on iPhone - does it break your dreams, too?
The recent launch of Apple’s “Tap to Cash” on iPhone marks a significant transformation in the peer-to-peer (P2P) payment market. This new feature allows users to make payments by simply tapping their iPhones together, providing a seamless and highly convenient method of transferring money.
With Apple’s extensive user base, this innovation is likely to be adopted quickly and widely.
For other P2P payment providers, this development presents a considerable challenge as many companies in this space have spent years trying to build trust and expand their user bases.
Now, with Apple's entry into the market, these providers must rethink their strategies. The immediacy with which Apple can integrate new features across its devices means that competitors need to innovate faster and offer something unique to stay relevant.
The impact of this shift is not just theoretical. For many founders and venture capitalists, the night Apple announced "Tap to Cash" was likely a sleepless one. The P2P market is fiercely competitive, and any significant innovation by a major player like Apple can cause ripples that disrupt even the most well-laid plans.
One of the key lessons from this scenario is the importance of staying informed about market trends and innovations. The financial and payment industries are incredibly dynamic, with new technologies and solutions emerging regularly. Companies that fail to anticipate these changes risk developing products that may become obsolete almost as soon as they launch. Thats just one of the reason you need a payment and banking expert in your team.
https://lnkd.in/de-dmbZs.
hashtag#pspangels hashtag#movingmoney hashtag#movingmoneybook hashtag#banking hashtag#banks hashtag#payments hashtag#paymentsolutions hashtag#paymentconsulting hashtag#paymentconsultants hashtag#onlinepayments hashtag#PaymentChallenges hashtag#howbanksthink
The recent launch of Apple’s “Tap to Cash” on iPhone marks a significant transformation in the peer-to-peer (P2P) payment market. This new feature allows users to make payments by simply tapping their iPhones together, providing a seamless and highly convenient method of transferring money.
With Apple’s extensive user base, this innovation is likely to be adopted quickly and widely.
For other P2P payment providers, this development presents a considerable challenge as many companies in this space have spent years trying to build trust and expand their user bases.
Now, with Apple's entry into the market, these providers must rethink their strategies. The immediacy with which Apple can integrate new features across its devices means that competitors need to innovate faster and offer something unique to stay relevant.
The impact of this shift is not just theoretical. For many founders and venture capitalists, the night Apple announced "Tap to Cash" was likely a sleepless one. The P2P market is fiercely competitive, and any significant innovation by a major player like Apple can cause ripples that disrupt even the most well-laid plans.
One of the key lessons from this scenario is the importance of staying informed about market trends and innovations. The financial and payment industries are incredibly dynamic, with new technologies and solutions emerging regularly. Companies that fail to anticipate these changes risk developing products that may become obsolete almost as soon as they launch. Thats just one of the reason you need a payment and banking expert in your team.
https://lnkd.in/de-dmbZs.
hashtag#pspangels hashtag#movingmoney hashtag#movingmoneybook hashtag#banking hashtag#banks hashtag#payments hashtag#paymentsolutions hashtag#paymentconsulting hashtag#paymentconsultants hashtag#onlinepayments hashtag#PaymentChallenges hashtag#howbanksthink
I'm working on a CTO Search for a Fintech Lending company. Looking for someone to manage a team of 20 staff that has experience building and maintaining Loan Origination and Servicing Platforms. If you are interested, or know of someone who might be interested, please reach out to me.
I see more and more encouragement for introducing crypto payments to businesses' payment flows.
While crypto is indeed a very innovative alternative payment method that can attract a whole new type of customer to our checkouts, it does not come without risks.
Let me share a story from my book, which explains why we always need to think before we act.
One day an old client called me.
I hadn’t spoken with him for ages, but we were connected on social media, so he’d been observing my journey in the world of payments from afar. He had a couple of trading companies, which had been using the same traditional bank for decades for all their banking needs.
He explained that even though he wasn’t a crypto enthusiast, he had wanted to try this “new thing called Bitcoin”. He’d gone online, registered with one of the biggest and most well-known crypto exchanges, sent them €500 from his bank account, and trusting his luck, waited a month for the value to increase. He was lucky indeed, as one month later the value of the same crypto asset increased to €550.
Thinking that he shouldn’t push his luck any further, he initiated a withdrawal on his investment directly back to the bank account he’d sent the original funds. Even though he’d gotten lucky in his trading, his luck ran out when it came to his bank.
Apparently, not only did they deny receiving any proceeds from a crypto exchange, but they also flagged his account and placed him in a higher-risk category for his crypto-related trading activities. His shock deepened when he got a phone call from the bank. This same bank handled all his company accounts, whereby he was listed as the ultimate shareholder and director, so since he himself was categorized as high risk, the bank also put all his companies into a higher risk category, which resulted in him paying higher bank fees.
Unfortunately, his Bitcoin adventure and €50 profit eventually resulted in the loss of approximately €2000 in banking fees within just one year.
While crypto is indeed a very innovative alternative payment method that can attract a whole new type of customer to our checkouts, it does not come without risks.
Let me share a story from my book, which explains why we always need to think before we act.
One day an old client called me.
I hadn’t spoken with him for ages, but we were connected on social media, so he’d been observing my journey in the world of payments from afar. He had a couple of trading companies, which had been using the same traditional bank for decades for all their banking needs.
He explained that even though he wasn’t a crypto enthusiast, he had wanted to try this “new thing called Bitcoin”. He’d gone online, registered with one of the biggest and most well-known crypto exchanges, sent them €500 from his bank account, and trusting his luck, waited a month for the value to increase. He was lucky indeed, as one month later the value of the same crypto asset increased to €550.
Thinking that he shouldn’t push his luck any further, he initiated a withdrawal on his investment directly back to the bank account he’d sent the original funds. Even though he’d gotten lucky in his trading, his luck ran out when it came to his bank.
Apparently, not only did they deny receiving any proceeds from a crypto exchange, but they also flagged his account and placed him in a higher-risk category for his crypto-related trading activities. His shock deepened when he got a phone call from the bank. This same bank handled all his company accounts, whereby he was listed as the ultimate shareholder and director, so since he himself was categorized as high risk, the bank also put all his companies into a higher risk category, which resulted in him paying higher bank fees.
Unfortunately, his Bitcoin adventure and €50 profit eventually resulted in the loss of approximately €2000 in banking fees within just one year.
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Master C.
Jan 8, 2023
We are looking for the best of the best from our members to join our Premier Master Enabler Program. Focusing right now on International Expansion and New Market Entry professionals for Europe, Latin America, and the USA. Interested in learning more message Master Connector here or email - masterenabler@fintechconnector.com
Upvoted by Johannes and 11 others
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Master C.
Aug 9, 2022
Meet our FinTech Connector Switzerland Cruise sponsors on September 9th in Zurich.
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Upvoted by Greg and 8 others
Upvoted by 9
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Master C.
Jun 17, 2022
As the global economic environment is shifting, now more than ever partnering with the right organizations to increase business opportunities, focus on revenue growth, and drive innovation is critically important.
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
Upvoted by Brian and 4 others
Upvoted by 5
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Angel L.
Jan 11, 2023
I wrote an article that highlights the opportunities and challenges of digital transformation in banking and covers points on having a well-thought-out plan, organizational culture, and how to get started with partners that have done it already.
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
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Stephen W.
Mar 18, 2022
See our recent WealthTech 2022 report for a range of viewpoints and thinking on the main trends for WealthTech in 2021/2022.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
Upvoted by Diego and 7 others
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Luisa F.
Mar 7, 2024
Hello Fintech Connector Community! I have a bank client looking for fintechs that are interested in bank sponsorship. If you're in the market for a bank sponsor, please message me.
Upvoted by Stuart and 2 others
Upvoted by 3
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Angel L.
Apr 17, 2022
Another powerful report from FIS on global payments. This is a 156-report that gives you global payments trends, key insights, and other important ecosystem information.
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
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Master C.
Oct 5, 2022
Great seeing our Mexico Community Partner Sofia Gamboa on El Financiero Factor Fintec speaking with Sergio Loredo about fintech in Mexico.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
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Master C.
May 13, 2022
SWITZERLAND IS CALLING ALL FINTECH CONNECTOR MEMBERS...
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
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Angel L.
Nov 11, 2022
Great to see how we have come a long way since our Meet Ups at Hurley's in NYC to now travelling the world to connect people, opportunities, and capital. Looking forward to our 2023 FinTech Connector events being announced shortly.
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Upvoted by Vikas and 12 others
Upvoted by 13
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