„Digital Marketplaces Unleashed“ – a book worth reading.

dmu-coverIt´s been my pleasure to contribute a chapter to the new book „Digital Marketplaces Unleashed“, which is published by Springer on October 13th, with my dear co-author Björn Matthies.

This collection of different views on how digitalization is influencing various industrial sectors addresses essential topics like big data and analytics, fintech and insuretech, cloud and mobility technologies, disruption and entrepreneurship.

The technological advances of the 21st century have been massively impacted by the digital upheaval: there is no future without digitalization. The sale of products and services has left the classical point of sale and now takes place on a variety of channels. Whether in the automotive industry, travel and traffic, in cities, or the financial industry – newly designed ecosystems are being created everywhere; data is being generated and analyzed in real time; and companies are competing for mobile access channels to customers in order to gain knowledge about their individual contexts and preferences. In turn, customers can now publicly share their opinions, experiences and knowledge as User Generated Content, allowing them to impact the market and empowering them to build or destroy trust.

 

Bitcoin still struggles to be used as money

For paymentssourcedigital-marketing agency Cooperatize.com, taking bitcoin for payment was easy enough, all co-founder Roger Wu had to do was obtain a digital wallet. To promote the move in 2014, he even penned a blog post for Forbes explaining the decision. A great read on PaymentSource.com – you should read the full article here.

State of BlockChain: Nice read, Pymnts.com!

Pymnts.com is a good source for those interested in Blockchain and Payments – adding to this history is an interview they have done with John Callahan, CEO of the biometric authentication company Veridium. It does not change that Blockchain from my POV is still in a very experimental stage – yet interesting. You can read the full piece here.

Payment innovation requires merchant providers to be a Jack of all trades

Michael Doron, Managing Director of North America at Payworks, wrote a great piece on why merchant providers need to gear up for the increasingly clustered payments industry. Great read at Paymentsource.com, which you find here.

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.