Competing on Vendor Lifetime Value
Competition is a central driver of our market economics, and FairPay can lead to a new logic for competition. FairPay can be a powerful tool for firms to create stronger loyalty loops that significantly raise barriers to competition—but it also empowers new kinds of competition on fairness.
Most of this book focuses on the ability of FairPay to expand markets and grow total value—seeking optimal on average and in total, even if not on every transaction—from the perspective of the firm-customer dyad. But what about the larger market ecosystem—competition among firms and the innovation and efficiency that creates? The barrier to new/better entrants and possible loss of innovation and efficiency is an ...
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