Jul 17, 2008

How will banks meet the challenges of innovations in retail payments?

I chaired a conference this week in Hong Kong (Financial Cards & Payments Asia) and gave the keynote address, which you can download here.

Many thanks to Dave Birch for giving me the idea of opening the talk with a 1964 magazine advertisement for Sheaffer pens. The ad shows a futuristic key ring that projects a holographic image of a credit card. It even shows 4 tiny buttons which could be used to enter a PIN code on the ring. The really amazing thing though is that the ad demonstrates a blind spot that we humans have when it comes to innovation: Shaeffer being a pen company, they couldn’t imagine a future in which pens would not be used to sign credit card receipts.

1 comment:

Waterman Pens said...

The newer and more the technology, the more windows are opened for scammers and fraud to occur in a society. I think with credit card companies inventing newer ways to synchronize your funds now being through your key ring, theyre just asking for trouble. And I think especially now a days when we are in a recession, money is hard to get a hold of. So what do they do, make it easier to lose.. (Not such a smart idea)

-Rebecca S.