Paytech is consolidating

IBM buys a big player in Canadian Paytech. Better prepared to compete with Paypal and Square. About a one minute read.

Comment: the consolidation we’ve seen since The Corona Crash was long predicted here. After all, the most recent round of technological innovation has been seen several times in Financial Services since the 1960s. The most recent wave, which began in the early 2000s, won’t end any differently that waves before it. Start up technology is integrated into incumbents. Those who stridently insist “this time is different” and mistakenly believe Fintechs will dominate incumbents simply aren’t aware of our field’s history.