10 - 15 Cent Club :-), page-16

Interchange fees. Basically when you go out with your debit card and spend money, the store get's charged a fee, usually around 1 to 1.5% depending on how much negotiation clout they have. The standard interchange fee that is received from Mastercard in Australia is .77% of the transaction.

There's 10,000 on the Australian wait list but we have no idea the numbers who have registered in the US. They have a bigger population size and there's been a beta running with a small amount of users since September last year.

Let's say they launch with 30,000 customers in the US and each person spends on average 50 a day with .77% interchange fee. Half way through the year let's assume they put on another 30,000 customers in the states and 40,000 in Australia. On 100,000 customers, they can make 14.5 million in revenue.

This isn't even taking into account their BaaS (banking as a service) subscription, plans to launch their own ETF and or loans in the future. 100k customers is tiny in regards to a year in both the Australian and US markets, Up bank and Xinja both have around 200k to 250k customers and are also running far higher market caps along with shelling out interest on deposits, something Douugh won't need to do.