Modo CEO: 2018 Was The Year Of Utility
Bruce Parker, founder and CEO of Modo , contributed the following piece as part of PYMNTS’ 2018 year-end eBook . ’Twas December 2017, and all through the global payments space, APMs and traditional banks were in a neck-and-neck race. Fanatics were shouting the old ways were dead, while visions of blockchain danced in their heads. (Record scratch) So, uh, that’s not exactly how 2018 turned out. A year ago, enthusiasts spoke of a world powered by cryptocurrencies and challenger banks, with alternative payment methods (APMs) such as Klarna , Google Pay and other digital or contactless methods taking over for venerable cards (which have crossed the half-century mark!). However, those changes have come slower than many hoped — and in the case of blockchain, not much at all has changed. Nope. In 2017, everything had a little bit of blockchain on it. It was like a spice for chili (mmmm, chili). Now this technology is getting its comeuppance as banks and innovators co...