Cash HAS a future, as it seems. Interesting research by Pymts.com

Source: Cash Product Office

Source: Cash Product Office

Traveling the world I have seen that what many predict – the cash-less society – feels like it is very, very far away. A prime example for me is Sweden and the discussion that they possibly want to get rid of cash altogether within short. Not going to happen. When you are outside the bigger cities, hardly any small store likes you to pay by card. Mobile wallets are not to be found. It is the culture to have little markets and community cafés and when you try to pay your coffee and cinnamon bun with anything but cash they tell you where the next ATM is (in such cases usually some 30km away).

The more interesting I found this article by Pymnts.com, titled „With Millennials Picking Cash Over Cards, Cash Gains Steam“. Their research shows that while one would expect that older folks would use more cash, the exact opposite is the case. Worth mentioning is that the cash seems to be used mostly for small transactions while bigger ones are paid with cards – to keep the amount of change in your pocket in check. All this makes much sense to me – great read.

Great Summary by ValueWalk: The Stripe Ecosystem In One Giant Visualization

valuewalkSometimes it is hard to get to a core of a phenomenon – and then it is good that someone spends some time thinking it through and putting it into simple terms. Now, ValueWalk has done just that with the Stripe-Phenomenon. I believe reading this is time well spent. You find the article here.

This is the way: Luxembourg gives Innovation easy access to Money

One thing I never quite managed to wrap my head around is the way financing for start-ups works. Well, yeah – I understand how it works and why it works like that. But fact is: A start-up and it´s visionary leaders, taking personal risks to move it forward, should focus on their business entirely and push it towards success. Instead they struggle to get to the next finance round and pay for the essentials.

Markets which make it easy to access funds to grow a business, from my point of view, got it right. It should be easy for small businesses to finance innovation and growth and when a local government is supporting that in a relevant way, thats even better.

In that sense: great initiative in Luxembourg these days, with a deal between the European Funds for Strategic Investments (EFSI) and BNP Paribas in Luxembourg for lending cheap money to innovative SMBs in the marketplace. EFSI pretty much is a tool of the EU Commission to boost innovation and jobs. So say something that the EU is a bad thing. It is not. You can read how good it really is on the EU Commissions website.

Full details on the Luxembourg deal can be found here.

 

Could new payments authentication rules scupper European Digital Single Market?

Peter Bayley, EVP Risk Management at Visa, asked this question on Politico. This is about the plans of the EU Commission to enforce strong user authentication for payments transactions with PSD 2. Its a great read and shows good alternative paths, which do not cause frustration and additional steps for the consumer. While this is sponsored content (and I guess it is sponsored by Visa), I still believe it is very relevant in the discussion.

Has Pokemon Succeeded Where Retailer Loyalty Apps Failed?

paymentssourceI admit, I have adopted this headline – because I could not possibly come up with a better one. Great job, Payments Source! They published an article which reflects on a phenomenon which has greatly annoyed me some 15 years ago or so – actually I never got it, to be frank. But now, the phenomenon is back and finally I DO get it. Just in a much different sense than a stupid electronic toy that you „pay attention to“, apparently when you lack any other social interaction. :-)

Today Smombies follow their phones and not seldom are a true traffic hazard – now being steered by an app called Pokemon Go. First of all the good news: You have to move your body to play this app so give it some benefit for fighting obesity. But: you have to stare at your screen constantly which will probably boost the sale of power banks as well as it is in fact a traffic hazard. Anyway, the key thing it does is to make you search – or hunt for – Pokemon, epically ugly manga pieces of crap which you can do whatever with. This treasure hunt is what gets folks on the hook with it.

So why not place the ugly critter in a store, next to the items you want to sell? Not sure this is actually happening but Payment Source does have a point. This might be what all those loyalty apps failed about for so many years – and if thats true the current boot in market valuation for Nintendo is well deserved. Highly interesting and they got ME on the hook with it (while I refrain from playing Pokemon Go). Read for yourself here.

Addition (actually not sure it works) there was this Video on Facebook (in German) which brings back some (ugly) memory. :)