In Asian Banking, Constraint is the Mother of Invention – David Simms

Published on 2014-11-20

THERE ARE LITERALLY HUNDREDS of online and offline payment systems in Asia today. AliPay and Tenpay in China, Nets in Singapore, and Octopus in Hong Kong are but a handful of the payment platforms that are available to Asian consumers. So why have these unknown brands suddenly sprung up? Says David Simms, Senior Global Development Manager for National Australia Bank (NAB), it is because of the unavailability of the traditional payment options, that of Mastercard and Visa, to the local markets. In short, constraint has created the market.
David has been instrumental is creating a unifying platform that has linked hundreds of Asian payment platforms, which has allowed his firm, National Australia Bank (NAB), to capture a significant slice of the international payment market.