Buffett Provides Advice For Payment Industry Innovators

We all know that Warren Buffett has praised the power of human potential in the United States of America, and he does so in conjunction with the amazing rate of innovation.

Warren Buffett has provided a video interview in regards to the power of innovation, which was used to officially launch the start of PYMNTS.com’s The Innovation Project 2013. This is currently a two-day program which will challenge the way payments and the much broader commerce ecosystem actually thinks, delivers, talks and ignites innovation.

Buffett recently sat down with Kathy Baron Tamraz, the CEO of business wire, where he offered his particular view on the current landscape of the payments industry. He also provided his optimism for the future of economy in his keynote intro to the 2013 program, which is held at Harvard University.

Berkshire Hathaway owns a Business Wire as part of a joint venture with another partner, and they also own Market Platform Dynamics and PYMNTS.com.

“The pace of change in terms of what customers are doing, how they pay us, how they come to us – it’s breathtaking,” Buffett said. “Any company that interacts with consumers and thinks that last week’s technology and approach is going to work five years from now is probably making a mistake.”

As the current economic climate improves, Buffett tells us that he describes himself to be a “realist,” when he looks toward the future. But, he tells us, it’s America’s way to continually innovate, improve and progress – a very important theme which will certainly endure throughout the entire event.

“Our system does work. It works because it unleashes human potential,” Buffett said. “Never bet against what a human is going to accomplish if they’re operating in the right soil. And we have the right soil.”

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