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.

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Srisamorn Phoosuphanusorn

Business Editor

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