Amidst all the excitement and sometimes overinflation of financial technology startups’ disruptive potential, entrepreneurs often can’t zoom out a bit out and see a bigger picture. While it is understandable when your startup rapidly gains traction and there are no visible barriers, yet the market is not infinitely stretchable. At some point, a strategic decision will be required and every entrepreneur will have to find an answer to the important question: what’s the endgame?
The answer highly depends on the niche and AI startups that most likely have a different life cycle and final destination than, for example, RegTech startups. The different results of startups’ years of work depends on the role and place of that work in the general ecosystem.
Let’s roughly divide startups into two big categories – an element and a unit:
the ones whose product is an element in other companies’ infrastructure (like AI startups, big data analytics startups, banking technology startups, open-source platforms, machine learning startups, authentication startups, fraud detection software, etc.), and,
the ones that can be considered a fairly independent unit (companies dealing with customers directly and offering proprietary services, like InsurTech startups, RegTech startups, remittance services, licensed challenger banks, etc.).
The first set of companies tends to be on the back end – they are on the technology side of any business. Meanwhile, the second set is a service-oriented company working on advanced technology (possibly offered by the first set or in-house built).
To be fair, further inclination towards ‘element’ startups does not take into account industry giants such as Alipay, WeChat, ZhongAn and other truly massive and powerful non-traditional Asian players. Their success carries different hallmarks due to specifics of the region they have been growing in and other factors as well.
Julho de 2015 – Divisor de Águas na Automação Comercial
Julho está aí! As obrigatoriedades de novas tecnologias fiscais passam a ser cada vez mais realidade, quer seja S@T em São Paulo, NFC-e em ritmo acelerado no Rio de Janeiro e Paraná ou novo ECF em Santa Catarina. O fato é que as mudanças fiscais geram oportunidades e agora é o momento de atuar no crescimento e consolidação da base instalada.
Vários comerciantes fizeram as aquisições de suas respectivas soluções há muito tempo atrás e boa parte sequer mantêm parceria clara com seus fornecedores de software ou hardware do passado. Em resumo, hora de ir a campo conquistar novos clientes.
E num cenário econômico cada vez mais recessivo isso é um bálsamo para as empresas do setor.
Essa consolidação da base abre frente para um importante segundo momento: aplicação da automação comercial como real ferramenta de gestão e informação. Aplicações de integração contábil, promoções em mídia social, análise de resultados, meios de pagamento com conciliação automática, integração com fornecedores, etc., atenderão as necessidades do mercado e sem dúvida darão respaldo a fidelização dessa nova base.
Várias empresas têm se especializado em soluções na nuvem facilitando a interligação dessas aplicações, inclusive com a participação de várias empresas especialistas. Isso sem dúvida fará a diferença das soluções com conteúdo versus as soluções gratuitas de mercado.
Wrap-up: The complete guide to mobile wallets
1. A mobile wallet is the digital equivalent to a physical wallet—a container to store digitized valuables for authorization.
The first key to understanding mobile wallets is getting a good definition of what a mobile wallet actually is and what it is not. In the first post of the series, I share my thoughts on a general definition that is valid for all types of wallets.
2. Mobile wallets can be divided into two major groups: proximity and remote mobile wallets.
This is the major distinction between mobile wallet types. Understanding the difference between proximity and remote mobile wallets is fundamental for any further discussion, because the design, usage scenarios and technical capabilities of these types are very different. I have often seen that clients are not aware of this and expect that there is a “one size fits all” mobile wallet.
3. Umbrella wallets are loosely coupled with various services, while integrated wallets have all services fully integrated.
Knowing the difference between umbrella wallets and integrated wallets is crucial to developing a successful business model. Each of these mobile wallet concepts has different value propositions for potential business partners and stakeholders that provide services for the wallet in the mobile payments ecosystem.
4. The five major types of mobile wallet services and functions are payments, coupons, ticketing, access and identity.
A wallet with no services is useless. To understand the value of a mobile wallet, you need to be aware of the services it is made for—including not just payments but also loyalty programs, transportation and ticketing capabilities, access keys and important identifying information. The combination of these mobile wallet services adds greater significance to the wallet concept.
5. There are numerous opportunities for using a mobile wallet in daily life.
After explaining the theory and concept of the mobile wallet in the first half of my series, I apply the concepts in the daily life of a user named Anna. I show how the mobile wallet accompanies the user throughout the day as she purchases food and tickets, unlocks her home for a cleaner, accesses a company network, enters a stadium for a concert, applies discounts and more. Having everything in one place in the mobile wallet simplifies the user’s life.
6. Mobile wallets provide essential customer data that can be collected and analyzed to the advantage of users and vendors.
Further business value of mobile wallets is hidden in the data. Sharing data of separate services through the wallet can open up a variety of new opportunities for the business.Mobile wallet analytics allows companies to capture data, engage customers and execute personalized offers.
7. The three categories of wireless technologies relevant to mobile wallets are contextual, indoor and geofencing connections.
The interaction of mobile wallet services with the local environment on different levels is crucial for the user. The different wireless technologies and types of mobile wallet connections are introduced and categorized in this post.
8. Companies can choose between proximity and remote mobile wallet types or opt for a hybrid approach.
My experience has shown that for many business scenarios, the capabilities of both wallet types—proximity and remote—are required. In this post I discuss how the proximity and remote mobile wallet types can be combined in a hybrid wallet approach.
9. An analysis of the available NFC-based card emulation strategies is crucial at the start of a mobile wallet project.
NFC is a core capability for proximity wallets, but there are a lot of complex and often hidden dependencies that many clients are not aware of at first glance. These challenges, and potential solution approaches, are discussed in this post.
10. To develop a mobile wallet strategy, companies must define clear goals that align with their business model.
Developing a mobile wallet strategy is a highly complex task for every business. I show in this post how to approach that and set up a successful strategy project.