Chris Daniel sees value in many of this year’s disruptive payments innovations. Bringing transaction power to the mobile device, the co-chair of Paul Hastings’ Global Payments Group says, is a wonderful thing.
But more change “” bigger change “” may be just around the corner. Much of what’s happened so far this year has taken place, Daniel says, at the form factor level; the consumer experience is changing, yes, but most transactions are still being completed using decades-old technology.
The key term for the next several years: disintermediation. Daniel says expanded internet access and the further development of global mobile networks are leading some entrepreneurs to believe they can replace those existing payment settlement mechanisms “” a task that seemed completely impossible just 20 years ago.
Listen to the full conversation with Chris Daniel for added perspective on what the future of payments might bring, what startups can do to capitalize on opportunities, and what incumbents should be doing to prepare for change.
