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Demographic Diversity & the Persistence of Traditional Payments Among Digital Natives

They may be the most closely tracked generation in human history. But it’s remarkable how much we’ve gotten wrong about Millennials. Marketing strategies devised for Millennials by older generations have been based on bad intuition, poorly curated data, and unquestioned, incomplete assumptions. That leads to bad guesses. When you’re designing banking and payment systems for your next generation of customers, bad guesses can be expensive.

For instance, it is accurate to call Millennials (a.k.a. Gen Y’s) the original digital natives. They were the first generation to grow up online, with a comfort with networks that spawned a radically distributed approach to commerce. Peer-to-peer sharing, a threat to existing models, was an opportunity for new entrepreneurs.

By letting Millennials refr ...

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