The world of money is changing. New leaders are emerging with new ideas and this transformation will continue going forward. Next week, the Money 20/20 conference is coming to Las Vegas. I expect this conference will be a very interesting event about the changing world of money for both consumers and businesses, wire line and wireless.
As a wireless analyst I follow this very interesting and rapidly changing space. During the last year or two, attention has been turned up with focus on new players like Apple Pay, Google Wallet and Android Pay. These are an important ingredient of the new mix going forward, but so are existing players like PayPal who have been with us for much longer and is a leader in the changing payment industry.
PayPal, Apple Pay, Google Wallet, Android Pay
It’s all about innovation. What’s new? What can we expect over the next few years? That’s a powerful question. So many companies want to lead in this changing payment and banking space. Which companies will be leaders going forward?
I see some existing leaders like PayPal, Visa, MasterCard, American Express and others remaining leaders in their segments. I see new competitors like Apple Pay and Android Pay in their new mobile payment space changing their slice of the payment pie.
I also see other companies like Google and Facebook becoming players in this space. Plus, countless smaller companies with big ideas which I think will also transform the payment space as we currently see it today. Companies large and small.
Starbucks, Google, Facebook, Zelle
Companies like Starbucks, who was an early player in this space, using new payment technology to solidify and expand their relationship with their customers. Yes, a coffee shop affecting and impacting the payment industry. It is very exciting to see companies innovate and excel and change industry after industry.
New ideas like Zellepay from a new company called Zella should launch in 2017. Zelle is a group of banks which have the majority of US consumer accounts. Zellepay will be an instant, person-to-person payment brand.
I also expect to see companies like Facebook be a heavy-hitter in the payment space going forward.
Huge opportunity in changing payment industry
And there are so many more companies who all see a huge opportunity in the changing payment industry. This is an enormous growth opportunity. But that does not mean there won’t be failures. Remember CurrentC?
With that said, while no one can make guarantees about which companies will be the big leaders, we can agree this entire payment space is growing and changing and that is a huge opportunity for companies, investors and workers.
Money 20/20 Conference
Money 20/20 says they will have more than 10,000 attendees including 1,000 CEO’s and 500 speakers from 3,000 companies and 75 countries. Any way you slice it, this looks like a very strong event. Speakers are executives from heavy hitter industry players like PayPal, Google, American Express, Visa, MasterCard, IBM, Accenture, Pinterest, Harvard, Square, Walmart, Facebook, Samsung and so many more it would make your head spin.
New ideas are changing everything. There are also so many companies in so many slices of the payment pie, both wireless and wire line. Money 20/20 will focus on where we are today and where we are heading tomorrow so buckle up, this should be a helluva show in the money world.
