{"id":9015,"date":"2013-10-22T10:04:49","date_gmt":"2013-10-22T15:04:49","guid":{"rendered":"http:\/\/www.charanis.com\/blog\/?p=9015"},"modified":"2014-04-03T20:52:55","modified_gmt":"2014-04-04T01:52:55","slug":"payments-and-people-its-really-about-buying-access-to-our-conversations","status":"publish","type":"post","link":"https:\/\/www.charanis.com\/blog\/2013\/10\/22\/payments-and-people-its-really-about-buying-access-to-our-conversations\/","title":{"rendered":"Payments and People, its really about buying access to our conversations"},"content":{"rendered":"

There was so much happening this week in the P2P world – people to people. \u00a0There was the announcement that Square will be providing free P2P payments<\/a> via email joining so many others in that market and the land grab that is about becoming a part of our financial interactions with each other. \u00a0They are giving you a free service to become a part of your life; they are buying access. There was the expansion of PayPal into Europe via Uber another example of these payment companies just wanting to be a part of the way we interact with others. In fact, with 143 million active accounts in 193 markets and 26 currencies around the world, PayPal enables global commerce, processing more than nine million payments each day.<\/a>\u00a0BBVA – a huge bank \"banksimple-logo\"<\/a>HQ in Spain already huge in the US with the acquisition and rebranding of Compass Bank – bought little old Simple<\/a>, an experiment in personalized, mobile only banking – just trying to be a part of our on the go mobile lives. \u00a0Simple is about mobile banking but its also about improving the buying experience by simplifying payments with their Simple Swipe approach – the idea impressed me but I didn’t see much value in it. \u00a0Lets see what BBVA does with it. \u00a0ClearXchange <\/a>adds Capital One as a member and owner – this is now a P2P network that covers over 50% of the US Mobile Banking space and %35 of all deposits. \u00a0Its a big deal – they just bought into a pretty big financial community.<\/p>\n

\"th2MFNL2KH\"<\/a>Finally – everyone was so excited about the $19 Billion acquisition of WhatsApp by FaceBook – its all about getting in the mix people. They are all about being a trusted part of our lives<\/a>. We interact with each other every day – banks build branches in communities to be a part of that. Now they have to be in our virtual and mobile communities. \u00a0People don’t meet in the square anymore, they meet online. \u00a0People don’t go to the mall anymore they shop online. \u00a0So its crazy to think that these numbers are worth it – they aren’t but how many malls, bank branches, city blocks would you have to buy to bring together 500 million people and be a part of their everyday, personal conversations? \u00a0 The fact that there is so much private equity and public equity out there is another story – its scary. \u00a0Private equity assets under management probably exceeded $2.0 trillion at the end of March 2012<\/a>. Imagine what they are now.\u00a0\u00a0Facebook is valued at $170 Billion with over a billion users – so that’s like $170\/user. \u00a0If WhatsApp has 500 million active young and fun users – all willing to provide their mobile number and pay $1\/year for that service – that’s only $38\/user. \u00a0Hmmmmm.<\/p>\n

This is a fast moving world – a land grab for your personal interactions with other people, and the money is out there to pay for access to it.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

There was so much happening this week in the P2P world – people to people. \u00a0There was the announcement that Square will be providing free P2P payments via email joining so many others in that market and the land grab… <\/p>\n","protected":false},"author":1,"featured_media":9355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14,13],"tags":[],"class_list":["post-9015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-tech","category-mobile-tech"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.charanis.com\/blog\/wp-content\/uploads\/2014\/03\/th2MFNL2KH.jpg?fit=173%2C170&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p3mX8K-2lp","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":28328,"url":"https:\/\/www.charanis.com\/blog\/2016\/02\/22\/from-b2b-to-p2p-faster-payments-2\/","url_meta":{"origin":9015,"position":0},"title":"From B2B To P2P, Faster Payments","author":"Jimmyc","date":"February 22, 2016","format":false,"excerpt":"\u00a0\u00a0 I've watched the business-to-business , person-to-person, and account-to-account payments industry from an insider's perspective over the last 20 years. Moving through time from commercial online banking, to retail online banking, to mobile banking, to digital banking - payments is always at the heart of the end-user experience. 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I've started this post a hundred times and each time I stop because things change so rapidly.\u2026","rel":"","context":"In "Banking Tech"","block_context":{"text":"Banking Tech","link":"https:\/\/www.charanis.com\/blog\/category\/banking-tech\/"},"img":{"alt_text":"20130929-172310.jpg","src":"https:\/\/i0.wp.com\/charanis.com\/blog\/wp-content\/uploads\/2013\/09\/20130929-172310.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593,"url":"https:\/\/www.charanis.com\/blog\/2013\/11\/16\/opened-bank-accounts-with-getmoven-and-simplify-to-see-how-they-work-web-mobile-will-see-how-online-banking-is-useful-here\/","url_meta":{"origin":9015,"position":3},"title":"Opened Bank Accounts with @getMoven and @Simplify to see how they work web & #mobile – will see how #online #banking is useful here","author":"Jimmyc","date":"November 16, 2013","format":false,"excerpt":"Two new financial services entities have come into the market recently: Moven.com and Simple.com.Simple started out as a credit card based mobile solution while Moven was the creation by the now famous Brett King who drove us all to sell online banking solutions that were guided by his philosophy in\u2026","rel":"","context":"In "Banking Tech"","block_context":{"text":"Banking Tech","link":"https:\/\/www.charanis.com\/blog\/category\/banking-tech\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29096,"url":"https:\/\/www.charanis.com\/blog\/2021\/07\/23\/driving-devices-iso-202022-and-faster-payments\/","url_meta":{"origin":9015,"position":4},"title":"Driving Devices ISO 202022 and Faster Payments","author":"Jimmyc","date":"July 23, 2021","format":false,"excerpt":"I came to NCR to sell a modern ATM driving and transaction processing platform. 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