18 Aug '12, 11pm

Payment Data Is More Valuable Than Payment Fees #bitcoin

Payment Data Is More Valuable Than Payment Fees #bitcoin

We are in the midst of a great revolution in the payments space: anyone with a phone can now accept credit cards; online-to-offline commerce is allowing online payment for offline purchase and significant friction is being removed from the consumer purchase experience thanks to mobile. All of this innovation (read: competition), combined with government intervention, means that payment fees are falling, threatening revenue streams for incumbents and startups alike in the payments space. But a broader opportunity exists: using the data of payments to build a more valuable, more defensible business model, one not dependent on fees. The result will revolutionize offline commerce and online advertising. Today: It’s All About Fees, and They’re Heading Towards Zero Payment companies make money by charging fees to “process” a payment from buyer to seller. Square charges 2.75% (or...

Full article: http://techcrunch.com/2012/08/18/payment-data-is-more-val...

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