Comments
The Escalating Payments War
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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
8/18/2014 | 12:48:04 PM
Re: Don't forget about Fire Phone
The data is the important thing here. Amazon is already hurting a lot of brick and mortar retailers, and has a ton of data on how people shop online. This move would give them more data on how people shop in stores. They could come out of this with a very complete view of consumers' shopping habits and spending patterns.
Byurcan
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Byurcan,
User Rank: Author
8/18/2014 | 12:08:43 PM
Re: Don't forget about Fire Phone
There's definitely revenue opportunity abounding in there.
KBurger
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KBurger,
User Rank: Strategist
8/18/2014 | 12:06:32 PM
Re: Don't forget about Fire Phone
I guess it depends on where the revenues are -- or (maybe better?), the data that can be mined and potentially turned into revenues.
Byurcan
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Byurcan,
User Rank: Author
8/18/2014 | 11:01:50 AM
Re: Don't forget about Fire Phone
And it's possible many abnks won't mind being the back-end provider of transactions services. But you imagine the bigger banks will also want to be involved in the customer-facing part as well
KBurger
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KBurger,
User Rank: Strategist
8/15/2014 | 3:12:00 PM
Re: Don't forget about Fire Phone
That's a good point, Bob. Maybe the reality is that banks already are marginal or secondary players in the payments eco-systems and are really not the players that are going to be disrupted/disintermediated by the likes of Amazon. Thanks for the feedback.
Byurcan
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Byurcan,
User Rank: Author
8/15/2014 | 2:22:03 PM
Re: Don't forget about Fire Phone
Thanks for reading Bob. Yes it is definitely a move against Square more than anything, but as you mention getting that swipe fee is also valuable.
bob_graham
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bob_graham,
User Rank: Apprentice
8/15/2014 | 2:11:18 PM
Re: Don't forget about Fire Phone
Byran

 

Good article and interesting point of view on the banks.  I do view it however as more a target against Square and mobile payment providers.   The banks are already at the back end of Amazon's food chain already as a processor and this does not change the dynamic much.  

It does however represent a lost opportunity to get 1.75 to 2.75% in swipe fees by not having a competing product....
Byurcan
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Byurcan,
User Rank: Author
8/15/2014 | 9:15:21 AM
Re: Don't forget about Fire Phone
Yes, I have written befor eabout the potential of the Fire Phone as Amazon continues to be a payments innovator. The bottom line, with their built-in customer base, amazon has a great platform for payments.
KBurger
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KBurger,
User Rank: Strategist
8/14/2014 | 2:56:14 PM
Don't forget about Fire Phone
And don't forget about the Amazon Fire Phone. While it's not yet clear whether or not it will be successful and make inroads against iPhone and Android, what is clear is that its capabilities have a strong focus on commerce. So one way or another Amazon definitely intends to be a player/disrupter in payments.


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