Music, Payments, & Fintechs: Unpacking the Complicated Intersection of Payments & the Music Industry

In the abstract, payments seem easy enough. In exchange for a good or service, one person will pay another, either by handing over paper money or using an electronic payment method.

In reality, however, payments can be very complicated. Electronic payment methods rely on an extensive infrastructure maintained by various entities, both governmental and private, operating under a dense web of rules and regulations.

The situation gets even more complex when payments move between multiple parties and across international borders. Then when you add in arcane lending procedures, difficulties determining who is owed what when, a burgeoning gig economy, and a massive underbanked population, the payments ecosystem quickly becomes exceptionally complex.

In response to all this complexity and the related pain points, some companies are leveraging technology to improve various aspects of the financial services industry. These companies, known as fintechs and mainly comprised of young start-ups, are innovating across many industries, from streamlining lending practices to helping underbanked people transact. Read more….

Are you utilising the benefits of eCommerce to monetise your band assets? Are you ready for the digital payments world? Do you have a strategy to take your band into the world of eCommerce, AR Commerce, digital payments and the other technologies that will drive income for your band? If you answered NO to any of these questions, you should talk to the 1Tribe team. It costs nothing to talk and who knows, you might just walk away with some new ideas. Lets Talk!

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