Bye Bye Banks?

Bye Bye Banks?

How Retail Banks Are Being Displaced, Diminished and Disintermediated by Tech Startups and What They Can Do to Survive

James Haycock, Shane Richmond

The objective of Google is not to create a payment solution. The objective of Google is to be able to address the issue that they’re having, which is the cost-per-click model is becoming less transparent of what benefit the advertiser is getting from that click. In the case of Google Wallet, they can say, ‘Well, that customer that browsed X and Y, I can confirm to you that they went and purchased your product and here’s the proof.’
Startups and the bit of the banking model they’re after