Digital Disruption Commercial Strategies and Business Models

Colin WeirCEO & Founder

2014 – Still lots of analogue Cash  85% of all retail payment transactions 

Receipts

Invoicing

Dial Up 45% of POS terminals

In 1996 Evan Schwartz wrote this great book about how digital and the WW was to disrupt the old guard. 18 years on there are still lots of analogue systems around us with plenty of potential for change and new ideas. Wallets and money are clearly within firing range with cash still accounting for a massive proportion of retail payments. Anywhere we see paper points to opportunities for innovation, with receipts and invoicing presenting other key ones

We see such opportunities in parking where even though a lot of the paper has gone the experiences favour no one: neither the parker, the warden or the council trying to manage the cash and the congestion

The massive failure in the banking system over the last couple of years has rocked not only the financial system but also the political system. In Cyprus, the failure took the economic, currency and financial systems down with it. People could no longer trust banks and the sovereign state to look after the foundations of trade

These factors have opened up an opportunity for crypto currencies such as Bitcoin which though experiencing some volatility are seen by many as being safer than sovereign currencies as they are less subject to manipulation. Bitcoin has moved from the internet underground to Federal reserve support with Ben Bernanke declaring that the crypto currency may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system. P2P digital currencies present a great opportunity especially in cross border remitance

In the last 12 months China Union Pay has become the largest card issuer in the world. As political unrest in places like Crimea abound, alternatives will gain traction in ways never previously thought of. These will have to be considered when payment strategies are put in place

1/ Journo records Video

2/Journo tags video with notes and data

3/ Video uploaded to servers

4/ Optional Editorial Control

5/ Published on multiple

digital properties

6/ Journos become

personalities

7/ Subscribers

& Editors follow up

Crowdsourcing will continue to present great opportunities for creating value. Video journalism is one area where mobile video will allow all journalists, not justthose with camera crews to create content for news and this will occur for professionals as well as novices

Customers are playing mobile and video games to such an extent that the industry is now bigger than Hollywood. As this happens the engagement paradigm for all applications shifts to gamified experiences. Here a mobile banking app presents icons and images ahead of numbers and consumers compete against each other as individuals and communities for reward and recognition

There are many places for improved service. Here a rugby game sees some people queuing up for pies and beer , missing out on the game, while others sit in their sits, watching the game and missing out on pies and beer. Mobile and Mobile payments can fix many of these frictions

Loyalty is a game mechanic that consumers crave. They crave recognition and reward for their custom and must be embedded in the service offering. What s noticeable here in a coffee shop is that the merchant has an advanced loyalty scheme, a calculator , a till, a card reader AND a pad for writing down orders – These will collapse

There are 2.8 billion people on the planet without a bank account, many of them running small businesses like these taxi drivers in Kenya. In addition to bank accounts they need safe and secure ways to pay each other as well as access to short term micro loans to cash flow the business. These people and businesses present large opportunities to digitise the payment experience to make payments safer and faster

Thanks

Colin WeirCEO & Founder