a16z Podcast Fintech Fuels Global Payments
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Oct 30, 2023 Explore the complexities of global payments where 5% of the world's GDP is laundered annually. Discover how fintech entrepreneurs tackle challenges like currency conversion and regulatory hurdles. Learn about the impact of smartphone penetration on financial accessibility in countries like Brazil. Uncover the unique payment preferences in Latin America and the Canada-U.S. corridor. Venture into the innovative potential of a global payment system, encouraging entrepreneurs to harness technology for a financially inclusive future.
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Global Money Movement Challenges
- Software easily crosses borders, unlike money.
- This poses challenges for multinational businesses managing finances across countries.
Fintech Health Metrics
- Four metrics gauge a country's fintech health: banked population, smartphone penetration, credit card use, and local payment rails.
- These factors reveal opportunities for innovation, especially in contrasting areas like credit card versus smartphone penetration.
Brazil's Fintech Transformation
- Brazil's fintech transformation, from a banking oligopoly to a thriving ecosystem, demonstrates the power of regulatory changes.
- Regulatory changes, like ending exclusivity and unbundling banking licenses, fostered competition and innovation.