Aldo de Jong
For example, TransferWise has become popular for exchanging money across national borders. Google Wallet allows people to pay for things using their Google account. Square is a handy alternative to expensive card readers. A card reader fits together with an app and turns a small business owner’s mobile phone into a mobile sales terminal. The most widely-used non-bank owned online service is Paypal, which has become essential for small businesses and for customers of online retailers. None of these companies existed just a few years ago, but they have captured the market and are disrupting the banking industry. They provide a service we want, and they have quickly gained our trust. So how are banks responding?