I just watched a great video of a presentation by Clayton Christensen about disruption and innovation. As business leaders and business development, I think you all should invest the hour to watch this and think about both sides of disruption and innovation. One side is the opportunity it could create for VeriFone, the other side is how we could be disrupted out. One thing that struck me is that Square is disruptive innovation on two fronts: starting at the lowest “ankle biter” end of the market and also expanding the market by making it affordable and easy for non-payment customers to start taking payments. I wonder if we should look at mPOS/Cloud computing as a way to slowly take out and dominate the POS business by starting with the least profitable sector (the small merchant) and sectors that don’t use POS, and eventually adding features and capabilities to solve the “jobs of retailing” and displace the traditional POS vendors.
Here is the link.
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