What technology will be a game-changer for your business in 2016 and beyond?
My response is more about a game-changer for our nation, rather than my business.
The use of mobile money is about to become a common, everyday occurrence. We have already seen countless financial operations move to online transactions. This includes every form of investment, from stocks to bonds to certificates of deposit, etc.
Brick and mortar banks are closing in every neighborhood. Why do we need them when we can perform every banking service except getting access to our safety deposit box from our phone or computer? Bankers are looking for new career opportunities as they see their professions crumble around them.
Shopping complexes and stores are struggling as buyers move more of their purchases online. It’s so much easier to sit on the couch and compare prices rather than driving from store to store.
Now, the use of the mobile wallet will finish this picture. Instead of carrying cash or even credit cards, we just need our phone or smart watch. This simplifies and streamlines the purchase transaction, reduces the possibility of theft or loss and gets rid of a bunch of stuff we used to carry. When the U.S. embraces and adopts mobile money (like other nations have done already), we will see a significant shift in a variety of other patterns and behaviors. Culturally, it will surely move our mindset further into the digital world, where the millennials have been all along.