How software disrupts payments
Mobile technology and app-stores transform distribution for payments companies
Today we have an on-demand economy and can do almost everything we need from a mobile phone. We use phones to book a taxi or hotel. We can check up-to-the-minute sports scores. And many of us do our day-to-day banking on our mobile phones as standard.
This trend for apps, for a software-first world, has grown massively since Marc Andreessen declared, over ten years ago, that “software is eating the world”.
Now software is seeping into every aspect of our lives, especially with the growing interest in Artificial Intelligence (AI) and big data, we will become more and more aware of how software impacts us. Everything is becoming software.
Especially in the era of app stores, the software has zero marginal cost. In other words, once an app is developed and launched, the distribution cost for each new user is close to zero. With app-based businesses there is no physical store and no physical product; this means software-based businesses have some unique characteristics.
