While it might not be as sexy or exciting as banking or trading, the market for payments is prime for disruption. As one investor put it to Insider, the space is "fragmented and confusing," which typically is a surefire sign of opportunity for new players to clean things up.
And while inflation has been a sore spot for nearly every startup, it is actually a potential benefit in the payments space, according to another investor. Simply put, the more expensive things get, the more money payment players make from their cut handling transactions.
Payments also represent a foot in the door for companies to build deeper financial relationships with their customers, which is the real long game.
Like a toothbrush left at a potential boyfriend or girlfriend's home, what seems like a small gesture can serve as a tipping point.
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"I'm happy to handle your payments. But while I'm here, would you like to consider borrowing some money?"
"Let's handle this payment, but would you actually be interested in financing it?"
So what started out as a simple payment turned into a serious relationship.
2. One app to rule them all! The concept of a super app — a one-stop shop for a user's financial needs and beyond — is extremely popular in Asia and South America. But can it catch on in the US? A couple of industry insiders share their picks for who is best positioned to stand one up.
3. We asked top VCs to pick the most innovative sports startups. From a company that uses AI and robotics for massage therapy to an alternative-data shop focused on gambling, here are the 22 companies that made the cut.
6. Climate activists protested inside BlackRock's headquarters over its investment in fossil fuels, The Independent reports. Meanwhile, Insider has previously reported on nearly a dozen conservative lawmakers who have targeted BlackRock for being a proponent of ESG investing, proving sometimes you really can't win.
10. This photo showing the distance between the Earth and the moon will make you contemplate your life. Or maybe that's just me. Check this out, and then go for a walk.
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