I'm not seeing it.keithwang wrote:You made several salient observations
I agree these are long-standing blockers (cost, barrier to entry, consumer mindset etc) to advancing digital payments. But I see an opportunity to create a more cost-agile and direct payment ecosystem (no mobile wallets, social media payments or intermediaries etc).
The technology to enable this isn't impossible and what's really important to me behind this concept, is to keep the product/service as lean but effective as possible. With regard to the technology stack, I briefly gave hints in the survey about the possible use of biometrics and Cloud analytics.
For a start, I'd keep user acceptance testing to a small group first. I think if we can't get 100 users to enjoy using a new service, it would be pointless to further develop for a 1000.
Biometrics is only for localized security. Cloud analytics, is well, just analytics. I don't see anything in your ideas how you are going to money around. Everything else you're describing is just vague generalities--lean, effective, cost agile, direct, no intermediaries.
For security, you'll have to conform to some standards and get certified---that costs money. Otherwise, you'll have a hard time convincing people to process payments. For moving money around, you can't without an infrastructure.
And because of these, you'll have a very difficult time getting your 100 users. The opportunity you're seeing isn't just there if you can't address the points I've raised.