How Powerful Is Minno, The E-Wallet?
It doesn’t look to be turning out better than the last one as we enter another round of testing in the paywall/ microtransactions world as arguably until payment methods are improved where everyone is just whistling in the dark that hasn’t stopped the NY Times from taking another shot at it, and The Daily from trying a whole new format. To make it simple the necessary precursor to any of these schemes is a generally agreed upon payment system- an e-wallet.
Feeling this true and hard at work making a payment tool they feel it is as simple and as powerful as cash is Minno, that comes without political and regulatory trappings of those bank-related NFC schemes whereas they come with credit card tie-ins. Is it powerful enough even though it’s simple?
The Role Of Minno In E-Wallet Industry
The wallet was built by a couple of guys who left Google to pursue the project and they think there will be a place for this kind of payment system that is mainly purchasing online works like subscriptions, single articles, media, and books as also web app functionality. Fundamentally to point out it is a different market than that from NFC and expected credit and debit payments requiring a less extensive infrastructure.
Looking good, the plugin and system are an emerging opportunity for point-to-point money transfers on the web. Minno isn’t planning on draconian minimum fees or 30% transfer scrapes as a sane monetization plan will help. Whereas the timing and placement do matter, Minno is in the right place with the right clout when the field takes off.
Is it looking too far out as the transfer of funds between two unique IDs on the internet is likely to be standardized into a fundamental protocol. Until then it’s going to be branded or rather a brand growing into prominence just as Facebook and Paypal have .it is often found that big interests tend to step in whenever money is changing hands and regulation gets involved as well. This is not to mention that the potential business models and the market on which they exist are neither of them even close to solidified as well. What we are watching is a serious change to the way money is transferred and how the web interacts over the next few years.
How Does Minno Figure Out Its Future?
The common truth is that bigger companies aren’t nearly agile enough to offer an actual product that is just a few months of development just as Minno is doing, while they’re going to come to market with a product that is not superior but still carrying more weight. Every one of the monsters of the likes of banks, VISA, Apple, Google, PayPal, has good reason to spend millions on a successor system to hold over online payment methods which we’ve had in place for 15 years. This comes as a David vs. Goliath situation not holding out much hope for David.
While Minno has a system that works at the moment to their credit, they’re short on partners with no one wanting to go with a newcomer like this on the faith that with this ability to scale and provide service, the customization, and behind-the-scene wirework are to a large extent and important to customers as an example of a large blog network or media conglomerate that is using Minno with the necessity unproven.
Along with the micropayment world, it is going to be one of these billion-dollar businesses that everyone likes to talk about and get in on the ground floor of. Whereas the battle will be hot amongst the heavyweights, Minno may find themselves as they seem to have inadvertently set themselves up to be a small fish in a big pond.
The Final Thoughts.
It is surely surpassing the likes of Bitcoin and Flattr, whereas the e-wallet is set to take the stage in a storm. This helps the founders to rake up its trust amongst users.