OTT, Telcos and Banks
Ken Nwogbo writes on how OTT [like WhatsApp & Facebook] and telcos are conspiring to kill banks for the Guardian. He quoted me in that piece:
“The telcos have hated the global messaging app; now the banks join the fray. The risk to banks is clear: if WhatsApp becomes very successful in payments, it may become a small bank of itself. In other words, if people decide to be leaving money in their wallets without moving them to their bank accounts, most banks would struggle [liquidity issues]” [Ndubuisi] Ekewe added.
*the original article did not spell "Ndubuisi" correctly.
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