A couple of days ago eBay bought Braintree to enhance on their mobile offering, making eBay and specifically Paypal a sleeping bear just waiting to wake up. Its mind boggling and quite exciting to see how Paypal has been ramping up their position in payments over the last couple of years - these guys are serious and are not sitting back to wait for the guarantee that the market will/is happening, rather they are jumping in head first and making a run at the mill - they have a serious strategy and they are investing in it.
This made me think about my product and business career - I have often been asked to describe the "mobile wallet" concept and often stakeholders ask me to tell them, and most frequently build them, what they need to do to become a viable player in the mobile wallet space.
So today I will be sharing that with everybody online :)
Step 1. Google mobile payments (I took the liberty to insert the first non-sponsored link that popped up)
Step 2. Pick a provider model (MNO-centric, bank-centric etc.)
Step 3. Extract from "Step 1" all relevant product requirements and look at services referenced
Step 4. Quantify (think "up and to the right" and "$Bn")
Step 5. Put into 10 slides
Step 6. Get funding
Step 7. Brace and hope for the best (If you loose your job and hopefully get a new one, revert back to "Step 1")
ok ok ok ok ok, so there is more to it! I will write more details around how to turn "Step 7" into more of an academic exercise soon.
For now you can start with #1
