But beyond just the success or failure of specific businesses, electronic commerce has challenged the thinking of entrepreneurs and of those who lead traditional businesses. The developments in ecommerce have reminded us that change, even rapid change, is part of the normal evolution that we expect from market economies.
They have also shown, however, that no matter what delivery mechanism is used, successful businesses must still follow good business practices, pay attention to basic economic principles, and sell products and services that buyers want. I believe this to be true for business generally and certainly for payments.