Giant Killer: Open Banking vs. Cards

Prologue: This is part of my “Giant Killer” series exploring emerging FinTech verticals that could challenge incumbent oligopolies and flipping the status quo. Note that in FinTech, the path to success is usually by making “frenemies”, with a lot of room for collaboration and co-existence.

TL:DR

• Open Banking allows trusted third parties to retrieve your banking information and make payments on your behalf, giving steroids to plain bank transfers
• Open Banking payments is a potentially big market that could rival Visa…