p/e=8 only, page-21

I'd argue the increased competition is already here with regards to their payments business.

Every cab i've been in lately has at least one if not two iphones to run gocatch and/or uber.

Just my personal research, but:
- All my friends now use either gocatch or uber to pay for taxis.
- I ask every taxi driver how people are now paying (i catch a few cabs every week). They all say they take up of the new apps is significant and that most bookings are now done through they apps with most paying via the apps also.
- I caught up with a mate from NYC last week. UBER has transformed the industry so much over there that it has become a phrase. eg: should we just uber it there? Kind of like google became a verb for internet searching. Quite the coincidence given uber is backed by google right. I just think they are phenomenal innovators, so I would find it hard not to back them.

There is a point i could find value in this business but the more I think about it, the more convinced I am that the payments processing division should have very little value applied to it.