Innovative ideas can be original and unique or can be adapted from ideas elsewhere to fit the current circumstances and local markets.

Here, I’m inspired by Apple Pay (nothing new) Impressed by Barclays BPay (how easy was that to think of) and depressed by PayPal (Barclays just kicked your arse).

BPay Band
BPay Band

Innovation frequently requires substantial investment in product and market development before sufficient demand materialises and this is what Apple is doing..

Barclays have just released a cheap, more effective solution that anyone can use. This is all to achieve an acceptable return on investment. For that reason, followers or imitators lacking significant resources need to be able to quickly exploit competitors’ innovations at home or abroad in an effort to remain competitive.

Quite what PayPal wasn’t thinking – they have 20milion+ UK consumers and 100’s of millions globally with credit, debit and banking details already attached (SEPA included).

Why so far behingd? It was triallled and cancelled

Organisations that follow a successful innovator are then investing in a proven that has already gained some market acceptance and raised the market’s expectations.

laugh then copy

Now in this case – it doesn’t matter, contactless cards are common, becoming more common – Apple’s lunatic followers will ensure that contactless is adopted like crazy in 2015 – and Barclays ROI, and build-up of digital wallet is going to hurt PayPal and the other ‘digital wallet’ providers.

In essence, copycats are spending to remain competitive and to retain customers – you need simple solutions, with all your loyalty, credit, debit and banking details available for you to use in an instant.

For PayPal – they have this online, for Barclays – they’re going to now have this online due to this new tech – so the battle lines are, welll – moving.

For Apple – well, they could make a chocolate bar and people would buy it.

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The small business consultan
The small business consultancy