WikiPay Research

THE CONVERGENCE BETWEEN TELECOMMUNICATIONS AND FINANCIAL SERVICES

In this Linkedin post, developments are examined as mobile phones are becoming banks in our hands (or banks are being embedded into our mobile phones). This convergence of telecom and financial services has competitive implications for both.

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HOW FEDNOW AND FASTER PAYMENTS WILL IMPACT US FINTECH

FedNow’s promise of faster payments is not new. Aside from RTP and same-day ACH, we have seen faster payments in a number of forms: closed-loop P2P payments (Venmo, Zelle), wire transfers, stablecoins, and push-to-card. Each varies in settlement type, rail, limit, cost, push/pull capabilities, and transaction limits. This has created an ecosystem where U.S. money movement has become unnecessarily complex. In this white paper by Bessemer Venture Partners they explain that they expect to see more payment-first business models, and a new wave of fraud, and infrastructure to facilitate the patchwork of faster payments in the US.

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