Recently, Alex Rampell, a general partner in the VC firm, Andreessen Horowitz\u00a0spoke at Goldman Sachs’s Technology and Internet Conference. He said that in the long term, Amazon could be an industry leader in\u00a0the payment and services sector. This is because Amazon already has preexisting loyalty and customer data from their Amazon Prime services. With the introduction of music and e-books into its Amazon Prime lineup, Amazon could potentially do the same with banking and payment services. Amazon could achieve this by offering\u00a0low-debt payments or a no-frills bank (no minimum balance necessary) account to their customers.<\/p>\n
Personally, while Amazon could potentially follow the footsteps of Apple (Apple Pay) and Google (Google Wallet) in which a major corporation shakes up the financial industry, I do not believe it would be wise for Amazon to offer low-debt payments or a no-frills account to their customers. What makes Amazon unique is not only \u00a0because of its online shopping services, as well as its other Prime offerings, what makes Amazon unique is their R&D in future technologies. With the introduction of Amazon Alexa, the use of\u00a0voice recognition and\u00a0Artificial Intelligence to act as a customer’s daily assistant is an idea that can be expanded into Fintech. Recently at CES, Amazon has partnered with many companies to use Alexa as a voice assistant in home security systems, cars, fridges, and much more. As a growing industry leader in digital assistants, coupled with their data on customer’s spending habits, they could potentially create a Fintech solution that helps customers with their spending, and provide even lower offerings to them.<\/p>\n
Sources:
\nhttp:\/\/www.readitquik.com\/news\/fintech\/amazon-to-be-a-fintech-leader\/
\nhttp:\/\/fortune.com\/2017\/02\/14\/andreessen-horowitz-fintech-alex-rampell-amazon\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Recently, Alex Rampell, a general partner in the VC firm, Andreessen Horowitz\u00a0spoke at Goldman Sachs’s Technology and Internet Conference. He said that in the long term, Amazon could be an industry leader in\u00a0the payment and services sector. This is because Amazon already has preexisting loyalty and customer data from their Amazon Prime services. With the … Continue reading Amazon has potential to be Fintech leader<\/span><\/a><\/p>\n","protected":false},"author":1803,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1067","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":1,"qubely_featured_image_url":null,"qubely_author":{"display_name":"bsyoung","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/bsyoung\/"},"qubely_comment":1,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"Recently, Alex Rampell, a general partner in the VC firm, Andreessen Horowitz\u00a0spoke at Goldman Sachs’s Technology and Internet Conference. He said that in the long term, Amazon could be an industry leader in\u00a0the payment and services sector. This is because Amazon already has preexisting loyalty and customer data from their Amazon Prime services. With the…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1803"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=1067"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1067\/revisions"}],"predecessor-version":[{"id":1068,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/1067\/revisions\/1068"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=1067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=1067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=1067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}