The New Business Model of the Payments Industry

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Within the last couple of years, FinTech and especially Payments has seen some amazing companies emerge out of nowhere. Most notably are of course Stripe and Square, which have been able to amass valuations of $9.2 and $18.9 Billion (valuation Tuesday April 3rd, 2018) respectively. Being recognized for their ability to change the customer experience in both the online and the offline world, there are some that say that both companies have done very little to actually change the status quo. Having been build on top of the existing infrastructure of Mastercard and Visa, Stripe and Square, have not changed anything fundamentally about Payments, however they have been adding a new perspective on how to monetize payments in the future. In this post, I discuss how new startups are changing Payments and how they are leveraging data to create long-term profitable companies.