21 October 2017
Alexander Peschkoff

Beyond TEDIPAY

Alexander Peschkoff - TEDIPAY

119Posts 540,659Views 617Comments
Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Haven't PayPal read Mark Twain?..

25 July 2013  |  3484 views  |  0

PayPal are bearish on cards - "Plastic Credit Cards Will Become Obsolete in 5 Years".

Surprise, surprise! Considering that MasterCard are introducing a digital wallet fee which will affect mainly... PayPal (as well as their... plastic card launched just six months ago), that statement is not surprising.

As Mark Twain put it, "the report of my death was an exaggeration".

How good are PayPal at predicting the market trends?

July 2011 - "PayPal shows off phone-to-phone NFC payment system for Android"
November 2012 - "PayPal yet to give up on NFC"
January 2013 - "NFC Not The Answer for Retailers, Says PayPal"

Ditto.

Don't get me wrong: PayPal is a solid company, they are great at what they are doing. However, they became too big (too fast) and, as a results, complacent. Also, operationally they are drowning in their own (growth) success - nearly half of PayPal's entire payroll works solely to field complaints, fix issues and offer resolutions.

David Marcus is there to shake things up (great interview, btw), to bring back some of the innovative & disruptive start-up culture. Will he succeed? We shall see.

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job title CEO
location London
member since 2012
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I am the co-founder and CEO of TEDIPAY, the company that is bringing to the market a game-changing platform for secure mobile transactions.

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