Kindel’s Law – Every payment system eventually becomes an anti-fraud system.
-Charlie Kindel, 2013
I’m not sure how this law thing works. But I’m jealous of folks like Moore, Atwood, and Shannon. I think everyone should have a law named after them.
In 2013, when I was tasked with build Amazon’s equivalent of ApplePay I had an epiphany. After studying all of the payment systems going back to the invention of currency up to credit cards, Amazon’s payment products, Bitcoin, PayPal, and so on, I noticed they all ended up being far more about defending against fraud than anything else.
This was certainly true at Amazon where the largest amount of resources, the most energy in reducing costs, and the place where the highest IQ was applied was on fraud.
So there you go. My law is now on the Internet. It must be true. Someone please write a Wikipedia article.
Update! See Also
Kindel’s 2nd Law – Companies with a subscription-based business model eventually behave in ways hostile to that company’s customers..
Kindel’s 3rd Law – Amazon will enter every existing business, channel, and market. If said business, channel, or market doesn’t already exist, they will try to invent it.
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