The Health Benefits of Payments

By

Francisco Mondragón

Imagine a World in which people have the tools to purchase any product through their telephone. I remember when I was a child this sounded like the future to me, or to be able to talk to a person via tv and see their faces in real time.

Nowadays you even have #Alexa or #Siri that help you on daily tasks. In a few years’ cars will be driven by themselves, like the Domino´s Pizza Ford Fusion delivery test car.

As our lives are evolving also the way and tools through which we purchase things has changed. You arrive at #Starbucks and can pay with your mobile and provides points for your next coffee.

Imagine that we wanted to purchase products but depending of the type of product, a person could even receive it for free.

I recently downloaded the #BusinessInsiderInsider PDF document “The Future of Payments 2018: Diversification” by Jaime Toplin, which is a very easy read. In which it depicts new methods of #payments through which we are able to purchase products. It also mentions how the main processors have even provided financing solutions to pay through differed payments.

I believe that in the near future #paymentprocessors firms in addition of providing full support, shorter periods to deposit the funds, offer great capabilities for #businesses to manage their #finances and #1inventory control and fee rates. They would need to involve the human aspect, in order to make a distinction and consolidate their brand.

We are witnesses of how the “Millennial” generation has been a game changer in terms of how companies hire, post and recruit. Also, #technology has advanced a lot greater and we humans are to be replaced in the coming years by automated processes and /or robots and lately from #ai. For which we need to focus in helping our human race to sustain in order to prevail and evolve.

Proposition...

Imagine if depending the type of purchase segmented by product type category, we could demise the lack of food distribution globally. See list below e.g.

a: luxury: watch, sports car.

b: neutral: regular Clothing or electronic devices

c: daily: food, water, gas

Imagine a system which already exists (to some extent) but according to the type of purchase a person makes, you will receive points, correlating the more sophisticated and rarer the product is the higher the number of granted points are generated similar to #chargeback or airline miles.

But instead of accumulating into one’s account, the owner could donate those points for a global pool (regulated, monitored and periodically audited) providing the opportunity for people with less opportunities a new method to acquire food, clothes or even education.

The benefit for the donator would be the recognition of being the patron for so many people, a global distinction as the ultimate provider (For those who need to be recognized). So, imagine the lifestyle of your typical High Net Worth Individual or just an average person willing to help people. Which buys boats, cars, clothes, bottles of the finest drinks, dining in the world’s most exclusive restaurants, buying clothes, bags, jewelry and so forth.

Our current system is that you buy the item and that’s it. Depending the credit card, you have, one can also buy more items via the generation of points the purchase triggered. But middle-class people and above mainly do not have any interest in buying more things like a blender or a microwave because the already own one, the airline miles most would be interested in.

So, imagine that each payment processor had the enabled option to donate those points, to supermarket chains so people can essentially buy food for free funded by the accumulation of the global points generated by each purchase specifically locating low income countries and local regions for emerging market countries as well.

Evidently this system can be offered for non-luxury products, focusing in water, fruits, vegetables etc in order to promote a healthier lifestyle, decreasing the risk of diseases generated by poor nutrition preventing the continued trend of obese people in the world.

This would generate that globally people could be able to have access to meals and dress. This can also be used for medical assistance, treatments etc.

Betting that through having more healthy eating habits people can decrease the rate of sickness.

In essence, the usage of the points for meals, could potentially be understood as promoting free consumption that to some extent it is in essence the way it should be since the earth provides this product naturally. However, I understand the markets have expenses also, which could be absorbed to some extent by the government. Under the premise that by having more healthy citizens will work better propelling their countries economy.

Please consider this as just an idea, of how we can make the world better to more people, there are other considerations that would need to be considered as how and who will be monitoring the proper management and allocation of this system. Believe me, I come from a country in which corruption is an everyday thing, just wanted to share my thoughts.

Happy 2019!!!

Francisco J. Mondragon M.

Founding Partner

Mondragon & Mondragon Consulting Associates

+52 1 55 88-40-87-27

contactus@mondragon-mondragon.com

www.mondragon-mondragon.com