My view is that there are errors. The 200% increase in e-surveillance is to Match 2020 (i.e. 1500 now and circular 3,000 to be added).
People may want to ask management, but I feel that Ipay $10m AUD transaction figure is currently per month. A lot of the services per Facebook were added recently or will be added soon (Amazon, Gift Card, Prepaid card and cash drop etc). From what I found, they started Ipay in around October 2018 (TSI Facebook page). On LinkedIn we knew they had 1,100 merchants circular end March, early April. They now have 5,000. They are also running free Distributor ID etc currently to onboard more merchants. Growth looks ok to me from rollout of basic version to the present. I don't believe the system is designed for Coles, but more financial inclusion through smaller regional merchants (hence the presence of Insurance, Microfinance, Pan Card coming etc being built in).
The new ATM machines hopefully include cash recyclers and are more smart machines. This way the cash management cost reduces and more services like Ipay can be incorporated into the machines, rather than just a traditional ATM .Anyway they have finance for the upgrade, so the financiers must be happy and the contract prices must cover the extra costs; remembering they run black, rather than white label machines.
To build and promote a fintech platform, have the ATM compliance and one-off issues and still say cashflow positive, with no equity capital, is a pretty good achievement in my book. Hopefully, this pants the picture for a much brighter future.
I am interested in the AWS data protection platform C10 built as a first for the Aussie Government department. In the Nov 20 Canberra presentation C10 ran in partnership with Palo Alto and F5, C10 (on LinkedIn) refereed to it as "our" data protection platform (or words to that effect) and called it PRODUC from memory. Maybe the start of a product offering.
Cheers
VOR Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
