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The Payment Revolution is Coming: Welcome to Interchange Zero | Interactive 2012 | SXSW

3,870 views · Published 26 July 2012 · 9:36 · Indexed 27 September 2026

Channel: SXSW · 2012 · Science & Technology

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When money flows frictionlessly, good things happen. Good things for small businesses. Good things for consumers. Good things for the economy as a whole. The game layer and the mobile payments space are on a crash course, and it's going to be awesome. So awesome that it'll force credit card interchange rates to zero and pump 50 billion dollars a year back into the economy. Sounds crazy, but before Al Gore invented the internet, we never imagined information would flow so freely. As soon as the friction was removed from information-transfer, a new economy emerged that changed the way we do business. The same is about to happen with money. It's just another medium of information, and it's high time to suck the friction out of the economy. There are two elements driving this transition to interchange zero 1) the technology that's driving fees down (along with some far-reaching legislation thanks to Dick Durbin) and 2) the information inherent in payments that's being leveraged to drive revenues up. Join Seth Priebatsch, Chief Ninja of SCVNGR + LevelUp for a fast-paced session on how a combination of mobile payment startups (even the ones being formed by big companies), The Durbin Amendment, and a tipping point in consumer behavior will completely change the way we think about money -- maybe even re-wire how our economy works.

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