Innovation - new business from payment platform

Every generation needs a revolution - an entrepreneurial revolution

Last Tuesday, we went to the North passing by SCTEX TIPLEX.  It was too late to discover that we

did not have load for particular sector.  The gate bar let us through anyway  with a credit indicated.  So without further delay, we had the RFID loaded which was immediately paid with the load.  It dawned to this post that the platform is practicing a lending operation to a captured market.  Soon the platform will make the load interest bearing,  And the credit will become a lending platform to the captive market using the expressway.  

Very soon the banks will face a competition, very soon BSP will have to regulate these platform.  Very soon scams involving such business practices will boom

We have seen this with GCash which is now into interest bearing loads, and loans for temporary loss of loads.  We have seen this at Lazada.  The L wallet is the start

We live in a different world and thus think really really out of the box

New businesses from fintech; can overwhelm the banking system

Every generation needs a revolution - an entrepreneurial revolution

The payment system like that of Gcash has started to evolve.   Since it can effect the transfer of funds, other services can be had:

    1.  Loans -  (overnight on load)

    2   Deposits (5 to 6%)

        Expect more businesses to come forth.   Others will follow suit:    Giga, Pay pal, and other payment platforms.   Will CB intervene, and actively regulate this system like it regulates the banking sector

Expect banks to be irrelevant, what with great accessibility of this platform (about 70 million) The banking platform will change  Will BPI BD Banco de Oro still be the  dominant banks?

All ready the online stores have  wrecked havoc on brick motar stores.   16 of them closed in the US