Tuesday, March 26, 2013
Why I love movies - lessons for mobile payments
The beauty of movies is that one can reflect on the meaning of life through models and with indirect examples and do this in an entertaining way. Dharmesh Shah recently wrote an brilliant and entertaining blog on the lessons that could be learned from Moneyball. (Read here). It is really a worthwhile read.
Of all the lessons documented, it is probably important to reflect on the last lesson: "It's about changing the game. It's about seeing something that's not quite right in the world, and deciding you want to fix it." It is important to consider that mobile money is changing the game on a global level. While it is interesting to discuss some of the detail or get involved in some of the complex nuances, it is also important to consider that this is something that is "changing the game" in many markets.
As was the case with Baseball, we will have to consider that we are moving into a world that is different and that we will probably never convert back. The banking and payment industry is changing as cash will start to reduce. The role of banks and where profit can be made is shifting and only those that see this and adapt will keep on winning the World Series.