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What The Beatles can teach us about open banking payment adoption


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Why do some good ideas succeed while others fall by the wayside?

A2A payments could be having their own ‘Beatlemania’ moment

It’s a question addressed by behavioural economist Cass Sunstein (of Nudge fame) in his new research paper, Beatlemania, set to be published in the Journal of Beatles Studies.

Sunstein argues that The Beatles made it because they worked incredibly hard (see Malcolm Gladwell’s 10,000 hours rule in his book Outliers), possessed talent, and had great ideas – yes – but were also advantaged by a small and determined army of early enthusiasts, including their manager, who persevered through rejections from at least four major record labels.

In time, positive sentiment towards them snowballed into what Sunstein describes as an “informational cascade”, showing that we do not just rely on our own objective judgements to decide what is good, useful, or enjoyable, but rather make the decision in societal groups.

Instant account-to-account (A2A) payments enabled by open banking rules globally are entering their own ‘Beatlemania’…

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