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Watching Out For Unexpected And Unintended Consequences

Watching For Unexpected, 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.

Data:

1.4 billion: The gap created by price capping oil in the 70s between the number of barrels consumers demanded and the number available for sale each day.

147 million: Number of transactions across the Zelle network in Q1 2019.

40 million: Number of active monthly users reported by Venmo.

53.6 percent: Share of FIs that prefer to observe trends before unveiling new corporate products.

50 percent: Share of card volumes that are paid in full each month.

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