Have we Reached a Tipping Point in the Payments Industry?
New technologies could soon uproot traditional means of payment as companies such as Isis, Weve, LevelUp and MPayMe threaten the long established method of paying by a card swipe. However, the industry is still a long way from complete disruption as these technologies still rely on the card payment infrastructure to conduct payments. Mobile payment products do exist that circumnavigate card payments and rely on technology such as electronic funds transfers, but in the short term traditional payment providers don’t have to worry about losing business to disruptors quite yet.
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