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3 Non-Bank Payment Players to Watch
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Byurcan
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Byurcan,
User Rank: Author
7/18/2014 | 9:19:45 AM
Re: Whatsapp payments
Good point. Obviously, it's all speculationa s to what Whatsapp will ultimately become at this point, but it's interesting to think about.
lojo1
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lojo1,
User Rank: Apprentice
7/17/2014 | 11:27:19 AM
Whatsapp payments
I'd love to see how Whatsapp could add to the phone payment table? I have a feeling because Facebook bought them out, they will be more focused on working with Facebook than anything else!

Laurence - Natwest UK telephone banking number
Byurcan
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Byurcan,
User Rank: Author
7/17/2014 | 11:21:20 AM
Re: Snapchat files trademarks for electronic payments
Interesting, not very surprising either. I think these mobile messaging companies, snapchat, whatsapp etc, realize that just simply enabling messaging is not the endgame, and getting into something like p2p payments could keep them relevant for many more years.
myork301
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myork301,
User Rank: Apprentice
7/17/2014 | 11:04:46 AM
Snapchat files trademarks for electronic payments
Bryan & Jonathan - what are your thoughts on the latest with Snapchat filing trademarks this week to process electronic payments in the future?
Byurcan
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Byurcan,
User Rank: Author
7/17/2014 | 9:56:15 AM
Re: Non-Bank Payments Players
Yes Rogers did do that, though I'd image Google/Apple have no interest. But who knows.
Byurcan
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Byurcan,
User Rank: Author
7/17/2014 | 9:55:27 AM
Re: Banks Strategies to counter the disruption
Thanks for your comment. I do think "co-opetition" is something banks should explore more. I recently sat in on presentation given by State Street and Citi about how they worked together in one instance in a "co-opetition" type of way. That may be something banks have to consider to survive and thrive going forward.
tvjoseph
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tvjoseph,
User Rank: Apprentice
7/15/2014 | 12:08:53 AM
Banks Strategies to counter the disruption
You have very rightly highlighted the potential disruptors within the payment domain. As Professor Christensen Clayton, very rightly pointed out in his pathbreaking work "Disruptive Innovation" these disruptions begin in very innocuous way right at the bottom and then it moves up and consumes the product or service banks provide. To ignore this threat would be to the banking industry's peril. The threat is not on the real transactions involved within banking however the delinking of customer data behind the payment transactions which will hurt banks more. 

What do you think are banks strategies to counter this threat ?

Do you think co-optition is the way out i.e banks coming together to form a  platform against a common enemy ?

Would like to hear your views on this
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
7/14/2014 | 4:01:34 PM
Re: Non-Bank Payments Players
Good point Bryan. I wonder where that line is though that they would have to get a banking charter. In Canada Rogers, a telco, actually went through with getting a banking license (which is very difficult to get there) to make a big play in mobile payments. I'm not sure when a company like Google or Apple would reach that point that they would have to do something similar.
Byurcan
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Byurcan,
User Rank: Author
7/11/2014 | 11:00:14 AM
Re: Non-Bank Payments Players
I'll guess they will do as much as they can in financial services without "officially" having to become a bank, and thus be regulated like one. That's something they're not interested in.
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
7/11/2014 | 10:50:46 AM
Non-Bank Payments Players
As someone who has used Whatsapp for a while now, I think the potential for it to become a payments platform is really interesting. It could be a great way to send P2P payments across borders, say, for parents with a kid studying abroad or something.


I think in the larger picture it will be interesting to see if any of these players go beyond payments to offer other banking services. Square has used its market share in small merchants to start offering commercial loans. Will any of these companies try something similar with personal loans?


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