Like everybody else I have a list of 2011 todo's 95% of them will never materialize, but there is something refreshing about even making a todo list intended on improving your life. Very rarely do I make a "prediction list" in June, so "big ups" for December.
As most of you guys know I have been in the Mobile Financial Services Space since M-pesa was a mere thought bubble on a Vodafone presentation deck and I have had the pleasure of seeing Mobile Financial Services from a variety of different angles - Core Payment centric models with Zoompass, KushCash and others (TBA - wink wink), Mobile transport models with Zoompass, Clickatell and Mobile Money Ventures - and these different companies, plus the ones I have advised have allowed me to venture down all the verticals in the MFS space - pure banking, mobile money, pure remote, MMT and proximity payments, even a couple of core payment infrastructure plays. I am one of the few that have worked with ecosystems and deployed solutions in 1st, 2nd & 3rd world countries and its given me some untraditional perspective on things I guess.
When I began doing business in MFS in 2004, I started and launched a company called - - - - wait for it - - - - CellCash. CellCash was groundbreaking for its day, but in all fairness all it really was, was a stored value platform with SMS and Web as interactive channels.
Back then the business development cycles I had to go through to convince merchant acquirers that this was an ok use of the traditional merchant accounts, where tremendous.
I did succeed and was the first mobile money system launched in the US with all US carriers on board. I was lucky enough to sell the company shortly thereafter and go on to start KushCash with some friends. I guess the point here is that much have happened since 2004 and we all have a much better understanding of how the MFS space operates and looking back to those mornings in my home office trying to convince Chase Paymentech that it could be done definitely paid off - I feel blessed that I made the right choices and stayed in this space - Thank you all for making it fun and worthwhile.
Back then the business development cycles I had to go through to convince merchant acquirers that this was an ok use of the traditional merchant accounts, where tremendous.
I did succeed and was the first mobile money system launched in the US with all US carriers on board. I was lucky enough to sell the company shortly thereafter and go on to start KushCash with some friends. I guess the point here is that much have happened since 2004 and we all have a much better understanding of how the MFS space operates and looking back to those mornings in my home office trying to convince Chase Paymentech that it could be done definitely paid off - I feel blessed that I made the right choices and stayed in this space - Thank you all for making it fun and worthwhile.
So the market is now escalating and I think that companies that are in market already and have a foothold needs to go all out in 2011 - its the "Go big, or go home" year of Mobile Financial Services.
This leads me into my very profound resolutions :o)
This leads me into my very profound resolutions :o)
1. In 2011 I will help companies bank "A" continent. This has always been my objective and I think the time is right - so if you need ideas on how to bank a continent, reach out.
2. I will do my level best to help the market cross the final barriers in the communications gap between mobile and payments
3. I will be focused on 1 vertical to achieve my 9-5 goals and stay sane
4. I will create 1 disruptive technology - there are a couple of verticals that are not explored and on anybody's retinas - otherwise we will all become stale... and thats not ok
5. I will do my level best to be on the winning team for 2011 - no second place this year
There is quite a few people reading this and I hope that you guys will write your comments below so that we can capture your thoughts and perspective around 2011 in MFS.
Again I humbly thank you all for making the last 7 years unbelievably fun and exciting - and I guess its now "game on"?
Cheers - - - - J
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