By now, you are probably familiar with inserting chip cards as opposed to having them swiped on payment terminals. However, many people are unfamiliar with why this industry-wide change was made, how it affects businesses and common best practices around chip cards, or EMV, in general.
Read MoreIf you start to obsess about having a better offering than your competitors, remember this quote by investor Peter Thiel. "Superior sales and distribution by itself can create a monopoly, even with no product differentiation. The converse is not true."
Does your product need to be great, and should your customer service be incredible? Absolutely. That said, there will always be room for a strong competitor in any industry or market.
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