Everyday transactions should be simple, clean, and anonymous, not logged into some stnking database for all eternity. I don´t want to be rated, tracked, sliced, diced, and data-mined by some techbro filth.

Grown increased complex in the system with many providers for different services. A single payment can activate 5 or more actors.


4 main areas. P2P (mobile apps), P2B (Credit cards, cash), B2B (business transfers), B2C (salaries: transfers, checks). Local bank transfers are quite simple. International cross border not.

Small bank uses to have its current exchange in a larger bank, which charges its fees. Then the larger sends a swift message in America. This can take several days and its expensive.

All intermediaries charge processing fees and there´s only 1 foreogn exchange provider this makes fees higher, bigger spreads and leadtimes.

This all requires lots of reconciliation costs.
Cards and cash are falling in popularity in developed countries. Instant payments, contactless and mobile are taking the lead. All of it is based in consumer habits, which are rapidly changing.

The main 3 trends in payments are:
– Increase in cross border payments: this puts pressure in IT systems (still old 60s legacies).
– Increase competition from Fintech companie: Google and Apple. ¿Competition or Colaboration?.
– Increase in regulation specially for banks, which buts even more pressure on them.