Skip to main content

Barbarians at the Gates: Consumer tech companies will eat banks' lunch - The Economic Times

xxx

"The banking customer today is being wooed by the richest men in top four economies of the world - USA (Jeff Bezos - Amazon Pay), China (Jack Ma - PayTM), India (Mukesh Ambani - Jio Money), and Japan (Masayoshi Son - Flipkart/PhonePe). "

Barbarians at the Gates: Consumer tech companies will eat banks' lunch - The Economic Times

xxx

Comments

Popular posts from this blog

Euro area card payments double in a decade

xxx "The number of card payments in the euro area have more than doubled in a decade as consumers increasingly dispense with the hassle of carrying notes and coins, according to the latest statistics from the European Central Bank. In 2018, card payments accounted for almost half of the total number of non-cash payments across the single-currency area. Credit transfers and direct debits were the second and third most common non-cash payment methods, accounting for approximately 23% each, while e-money and cheques together made up around seven percent. However, the relative popularity of each type of payment service still varies widely across euro area countries. In 2018 card payments accounted for just over 70% of all non‑cash payments in Portugal, compared with around 23% in Germany. The stats show that the number of card payments made by consumers and businesses has more than doubled in the last decade, with an average of 121 card payments per capita in 2018, compared with