Alibaba entry rings data alarm bells

Alibaba entry rings data alarm bells

Alibaba Vs Amazon who will win the global e-commerce war? The battle is just beginning. (Screencap YouTube/The Spoiled celebrity)
Alibaba Vs Amazon who will win the global e-commerce war? The battle is just beginning. (Screencap YouTube/The Spoiled celebrity)

In the world of business, everything that is "given" has to be paid for, one way or another. There's no such thing as a free lunch.

Take the example of the banking sector's recent waiver of online transaction fees. A number of major banks are hoping that offering free digital transactions for life will help them retain customers' data, allowing them to build long-term relationships with their clients and to more effectively cross sell services. As an added bonus, this scheme will help them keep data out of the hands of tech giants, a rising force in consumer banking.

Srisamorn Phoosuphanusorn is Business Editor, Bangkok Post.

Please log in here to fully view this exclusive content. If you aren't a member yet, simply sign up here. It's totally free & takes only a minute.

Srisamorn Phoosuphanusorn

Business Editor

Do you like the content of this article?
COMMENT (6)

For Putin, Biden summit is all about respect

MOSCOW: When Vladimir Putin meets Joe Biden for their first summit on Wednesday the Russian leader will not be looking for progress on arms control, the lifting of sanctions or even an apology for the US president saying he is a "killer".

12:45

Three Pagodas pass closed

KANCHANABURI: The Three Pagodas border pass has been closed for two weeks from Monday after more Covid-19 infections were detected at the border with Myanmar.

12:39

Adrift Indonesian fisherman rescued

PHUKET: An Indonesian fisherman adrift for nine days in a small boat after his engine broke down was rescued by a Thai fishing boat south of Koh Rachanoi on Sunday.

12:30