well ok $150m fully diluted market cap at 33c and a few mil in the bank but still earning next to nothing and i dont see that changing for some time..
Consumers i believe are not about to adopt a payment system used on someone's mobile phone or tablet with a Mint Payclip card reader attached to it. I know i wont be. Its not secure from theft of card details or pin number/signature capture.
Merchants use Eftpos and will continually do so even more so now with fast transactions with tap n go and mobile phone NFC payments to come.
What sort of market is there for this device and what is the merchant fee Mint is charging on transactions , they are paying bendigo a certain fee per transaction to use their bank. I have seen what BNZ is proposing to charge for Payclip and it looks pricey to what Eftpos merchant fee's are.
Merchants in Aust currently offer secure payment Eftpos terminal's either desk based or mobile and offer merchant fee's lower than what Mint can possibly charge. I know Tyro Payments is offering Myob clients a Desk or mobile Eftpos merchant fee of 0.9%. What is Mint/Bendigo charging Myob for its Payclip per transaction.
Who would want to swap over to Mint just because you save a few dollars a month not renting a Eftpos terminal , its tax deductible anyway and lower cost than buying a new mobile outright if swapping over. Would a business use its grubby personal phone for business transactions, i dont think so. Besides Tyro charges less to buy a desk or mobile Eftpos terminal than what some mobile phone's cost if desired.
Lets not forget the first time someone captures someones credit card details and pin number/signature with one of these devices and does some illegal activities the Payclip system will be tarnished forever.
Once again for the taxi and hire car businesses there are 4 major players which offer services on top of payments that Payclip doesnt offer or will ever likely offer so i dont see any uptake there. If any cab driver wants me to pay with a payclip gizmo attached to his mobile he isnt getting paid.
The trades and market stall holders , mostly operate in the black economy so dont want a payment record and want cash and its only a few who would need or offer card payments.
Once again mobile eftpos is the standard in use right now and will stay that way for years to come imo. Would i trust a market stall holder or a tradie who i will never see again to use his/her mobile phone with a Payclip device attached , no way. If its someone i dont know or will never likely see again periodically there are plenty of alternative payment methods.
links
http://ingogo.mobi/
http://www.gocatch.com/home/taxi-cab-drivers/how-do-payments-work/
http://www.cabfare.com.au/
http://www.cabcharge.com.au/products/default.aspx#fareway
http://www.youtube.com/watch?v=98wcHPSunX0
www.tyro.com/?
http://myob.com.au/products/small-business/point-of-sale/myob-eftpos-1257828237134
http://www.cebit.com.au/cebit-news/2013/journey-into-the-near-future-of-mobile-payments
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