We've seen so many online industries being disrupted in the last couple of months (think AirBnB for accommodation & Hipmunk for traveling). In fact, I think "disruption" (using the current "trendy" definition) has become a business model in itself: just change things around completely within an industry, offer a superior product / service / experience and you're good to go.
The one industry that really needs some disruption badly is online payments. Sheesh, with more online businesses being started than ever before, I can't believe that something as completely shit as PayPal is still the #1 go-to for most of these startups. Payment processing is the lifeblood of these startups and yet we still have a variety of inadequate solutions available.
I think online payments fail for a couple of reasons (individually or in some cases, a combination of these):
I could probably go on, but these are the main reasons I see for the below-par experience with the solutions we have available at the moment.
With this at the back of my mind, I recently pulled the trigger on my first angel investment with InspirePay (where I'll also be an active advisor). The thing I liked about InspirePay was that they were actively trying to make things better and I especially think that there aim to democratize superior payment processing globally is fantastic (albeit ambitious).
Maybe it's just me... I'm from South Africa and as a result we've been excluded from using some of the better payment solutions out there. Maybe if we were based in the Valley I wouldn't have felt this way... What do you think? Got similarly frustrating experiences to share?