Good read. I am a big fan of Pix and UPI because these systems show a different path - one not grounded on profit maximization but on financial inclusion. QR code payment / mobile wallets took off in Asia, Africa, and Latam because it's simple to use and it enables faster and cheaper money movement. And they enable not only better services for consumers, but also for merchants. So win-win.
Thanks! Yes it’s really interesting. I’m fascinated to see if other payments tech also develops with this “split” between the west and the rest. There is a very different mentality between focusing on companies with private profits that operate internationally and sovereign domestic payment schemes regulated by central banks etc.
Yes, another really good read - thank you! In terms of whether other payment tech will develop: I guess this is why so many people are talking about stablecoins at the moment. They also carry the potential to enable faster, cheaper payments and disintermediate the major card companies etc. Possibly fewer interoperability problems too, which would be attractive from a cross-border perspective. Fascinating to see how all of this develops!
Thanks! I think that a lot of stuff I read about stablecoins sounds too good to be true. Given Stablecoins are 95% USD then I can’t help but think they will be caught up in geopolitics at some point in the future. Although exactly how this pans out I’m not sure yet. But if stablecoins proliferate then they will lead to the de facto dollarisation of economies outside the US, which means central banks lose their power over the monetary system they oversee, and interest rates lose their power… Let’s see how it goes
Good read. I am a big fan of Pix and UPI because these systems show a different path - one not grounded on profit maximization but on financial inclusion. QR code payment / mobile wallets took off in Asia, Africa, and Latam because it's simple to use and it enables faster and cheaper money movement. And they enable not only better services for consumers, but also for merchants. So win-win.
Thanks! Yes it’s really interesting. I’m fascinated to see if other payments tech also develops with this “split” between the west and the rest. There is a very different mentality between focusing on companies with private profits that operate internationally and sovereign domestic payment schemes regulated by central banks etc.
Yes, another really good read - thank you! In terms of whether other payment tech will develop: I guess this is why so many people are talking about stablecoins at the moment. They also carry the potential to enable faster, cheaper payments and disintermediate the major card companies etc. Possibly fewer interoperability problems too, which would be attractive from a cross-border perspective. Fascinating to see how all of this develops!
Thanks! I think that a lot of stuff I read about stablecoins sounds too good to be true. Given Stablecoins are 95% USD then I can’t help but think they will be caught up in geopolitics at some point in the future. Although exactly how this pans out I’m not sure yet. But if stablecoins proliferate then they will lead to the de facto dollarisation of economies outside the US, which means central banks lose their power over the monetary system they oversee, and interest rates lose their power… Let’s see how it goes