Profile

Location

Copenhagen

Member since

2016

Reads

Business insider Wall Street Journal

Jacob Koch

Treasurer at Nets A/S

Message Posts: 0 Comments: 2

Career History Working with Finance, Treasury, Payments and Risk since 2001. Been working in both Denmark, Sweden and USA

Jacob is Commenting on

ING tests software that turns mobile phones into POS terminals

Here in the Nordic has mobil based apps’s (mobilpay, Swish, Vipps) taken over much of the payments at flea markets, coffee-carts and other pop-up stores. Because “merchants” gets an instant terminal just by downloading an app. There has been no good alternative from the Card world towards this, because the dependency on hardware. If an app and a tap with the card, could solve this hardware dependency problem – it could help increasing the number of card based payments even more – both in the very advanced payments marked as here in the Nordics – but also in marked where card payments is not as well distributed - any street vendor anyware in the world could be a receiver of card payments. As mentioned in other comments there could be problems – but it would be very narrow minded not to explore this opportunity, because there is some risk connected to this, thinking about the upsides of solving the hardware dependency for smaller merchants. The payment industry is very dynamic and with a high amount of resources – I am sure we can find a way to solve those issues. It will be very interesting to follow this ING's test.

29 Jul 2019 Reply Read article

Younger, higher income consumers drifting away from banks - EY

In Scandinavia which is highly advanced in adapting to a cash free society the banks has been closing Branches for the last ten years. First the customers went online via PC, but recently has the "battlefield" moved to the Apps. However do you need to be a bank to make a good financial apps ?

03 Jan 2016 Reply Read article