Ann: Investor Presentation, page-140

Any Idea where TSN are at with the NOV agreement from 2017....? Cheers Anton.

Below is from the BAKER YOUNG - RESEARCH NOTE of 19 July 2017

The Novatti Platform - Partnering
India Payments - Transaction Solutions International Ltd Partnership
Novatti entered into an exclusive agreement with Transaction Solutions International Limited
(ASX.TSN) to develop solutions for the multi-billion-dollar digital payments market in India. India is
a highly attractive market as a result of a current legislative push to transition away from a ‘cash
economy’ in order to reduce corruption, increase business efficiencies and tax overall revenue.
TSN is a strong partner with a network of 14,000 ATMs and established relationships with more
than 35 tier-one Indian banks, including the Central Bank of India and the State Bank of India.
The services offered to the Indian market will include::
• An agent based payments and collections network;;
• Bill payment aggregation and a cash pickup remittance network;;
• Digital wallets; and
• Additional mobile banking, branchless banking and cash collection solutions.
According to a report by the Boston Consulting Group, it is estimated that total value of payments
conducted via digital instruments in India will reach US$500 billion annually by 2020, an increase of
approximately 10 times over current levels.
Revenue Model
Novatti will receive a mixture of wholesale and revenue share fees and the revenues will be
dependent on sales volumes.