Mark Roden, ezetop
Errol Damelin, Wonga
Xavier Thiran, Ogone Payment Services

• Most people assume you need banks. But do you? Can you get by with Mobile payment systems (e.g. ezetop using mobile phone airtime as a currency)
• Regulation often a barrier to innovation; Incumbents and Banks often co-opt regulation and use as a barrier. However, there must be standards to create the market in the first place.
• Response by regulators to financial crisis has been to encourage consolidation, rather than promote (sustainable) innovation. In decades long cycle of financial institutions rebuilding themselves.
• Is the credit card dead? No, there will be multiple financial instruments, each addressing certain needs. Problem is more do they meet the needs of certain groups of customers? Mozt payments initiatives fail because they take more time and are not as easy to use.
• Incredible possibilities e.g. the growth of Facebook in the last 2 years. Facebook now creating it’s own money.
• Fascinated by rate of adoption of airtime (and other convertible virtual currencies) as a form of money.

More posts from the Dublin Web Summit here.

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