Techcrunch is predicting a launch announcement by Amazon this week or next of a new web service around payments. If you had been following payments and IT related internet job boards, you may have been able to see this coming. For a couple months I have been wondering what “Project Iris” at Amazon was all about.
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It just occurred to me yesterday that I have never once had any communication from the CEO or president of the bank at which I do most of my banking. I’m not talking about a personal, two way communication here (I certainly don’t really expect, nor necessarily want to have a phone or email conversation with someone I don’t really know), but not once has the chief of strategy and business at my bank sent me even a form letter to let me know how things are going and what’s up.
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How many customers does PayPal have, and how often do they use the service? How does this compare to a big bank? An article on PayPal’s Nebraska operations centre provides some interesting insight into the use of PayPal:
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It seems like if you want to reinvigorate anything these days you simply put “2.0″ after it and it magically becomes cutting edge, cool and “now” - definitely demanding of one’s attention if they are on top of the most current trends. It would seem that even the conservative banking industry is not immune from the desire to 2.0-ify itself. What is particularly annoying is when the “2.0″ is just blatant marketing.
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Social finance sites such as Wesabe are not just web based applications that allow users to track spending, but provide personalized advice such as feedback from peers that specifically addresses one’s specific spending and saving patterns. They also provide an interesting opportunity for improving upon, and creating more timely payments studies such as the Federal Reserve’s Retail Payments Research Project.
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The new Payments Watch Careers site has job listings that will help payments professionals find new and exciting opportunities. So if you are looking for a change of scenery in the payments industry, check it out.
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Payments are big business. Total industry revenues are over $200 Billion, almost double the revenues of the entire airline industry. Payments Watch provides insight and analysis on payments industry news from around the world.
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