Watching Out For Unexpected And Unintended Consequences
Many ideas can sound good in theory, but turn out less than perfectly in execution. In the 70s, there were gas price caps, and as we approach the 2020s, it looks like it might soon be card interest caps. The problem, as always, is that it’s hard to predict the future. Five years ago, we all thought the mobile payments race would be between mobile wallets, not P2P platforms. It’s why FIs are increasingly likely to take a measure twice, cut once approach to innovation – and why others might be well-served to follow their circumspect lead.
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