In most nordic countries, we have a single payment app that’s been codeveloped by the major banks. everyone has the app and it’s automatically connected to your checking account. We also have easy direct bank-to-bank money transfers at every bank. Most online stores in Sweden also use Klarna which saves your credit card information for you across all sites.
I think it’s one thing to be the one stop shop for a single category of goods, but when one company tries to to be in every pie, it crashes and burns. Look at how much of a mess AWS is, or how Google closes a service every few months, or how Facebook is a cluttered mess.
Low barrier to entry can be good, but you’re just opening yourself to exponentially more competition by trying to be in every market.
In most nordic countries, we have a single payment app that’s been codeveloped by the major banks. everyone has the app and it’s automatically connected to your checking account. We also have easy direct bank-to-bank money transfers at every bank. Most online stores in Sweden also use Klarna which saves your credit card information for you across all sites.
I think it’s one thing to be the one stop shop for a single category of goods, but when one company tries to to be in every pie, it crashes and burns. Look at how much of a mess AWS is, or how Google closes a service every few months, or how Facebook is a cluttered mess.
Low barrier to entry can be good, but you’re just opening yourself to exponentially more competition by trying to be in every market.