Citi Ventures is betting on cars that pay their own bills, and its co-head of investing envisions a future where your devices make payments without you
, for example, where using IoT, insurers can monitor a driver's habits to determine premiums.
"We have to think about and leverage models where payments itself is sort of a service that's given away for free." Likening payments to printers, Gupta noted that most of the money is made on ink cartridges. If payment processing is the printer, fintechs will need to figure out what their ink cartridges could be.
"If you can handle these exceptions gracefully and in an automated fashion, you can get to that end state of marginal cost of each additional transaction being zero," said Gupta. "There is that ad-based mechanism around monetization of the signals and data in payments, which is how the Amazon's and the Google's and that whole ecosystem continues to be interested," Gupta said.
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