doesn't seem to be very positive news for MNW... http://www.afr.com/p/technology/xero_square_deal_takes_battle_to_Sd3SSsykNdrAceAM14AZ3N
Mr Ridd said Xero intended to follow a different path to MYOB in the mobile payments space, and believed that MYOB was limiting itself by competing as a payments player in its own right.
“There are lots of payments providers in the market. We had a look at the Mint Wireless opportunity and we understand MYOB’s direction there, but it is not a strategy we would undertake,” Mr Ridd said.
“We think that the business to consumer payments market is well and truly covered by a range of providers, and our plan is to leverage the innovation that is coming out of that, rather than competing with it.
“We wouldn’t want to white label another technology as Xero, that would restrict us from working with a number of other player, which is exactly what MYOB has done. We are taking a different approach, which I think is much more open.”
MNW Price at posting:
28.2¢ Sentiment: None Disclosure: Not Held
