If you’re flaunting wads of cash, turns out you are poor.
In many respects for most people other than the poor, currency has become a private function rather than a traditional public function. This is one of the most powerful arguments as to why there is place for entry based on real innovation in the payment systems market in 2013 and beyond.
This is how much cash is used as a share of U.S. spending based on household income for 2011. (Source: Barron’s)
$35,000 60%
$50,000 15%
$60,000 10%
>$60,000 2%
Thus, for 98% of spending for folks of annual income, payment systems are taking a private cut of aggregate spending.
Here are links to past posts regarding the opportunity in digital payment systems. Here, here, and here.
takingpitches 