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1Payment Context - Coggle Diagram
1Payment Context
Context
Historical, Economical, Social importance
Previous technological innovations were by Financial institutions.
This time are by Tech companies by:
a) Big data
b) Aggressive in new products
c) Less regulated than incumbent
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1b) Payments, Money transfer
Paypal, Venmo, Alipay, WeChat Pay, Stripe, Square
2a) Personal Lending,
Credit Cards
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3c) Private banking, Wealth Services
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Innovations
- Frontends over current infrastructure
Digital Wallets, Payment Ecosystem, Credit Card processing
Blockchain, Cryptocurrency
- Integrated Systems
developed from scratch
M-PESA, UPI (Unified Payment Interface)
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Terms
Recurring digital payment, Cross-border payment, Banking payment, eCommerce payment, Digital payment, Payment stack, humanising credit experience
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- How current payment systems operate.
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- Technological innovations to current inefficiencies
- Value propositions for new technologies in the payment space