Warnie you have no idea but you seem adept at scaremongering and creating problems that aren’t there. So to clarify for you, when someone goes into a payment agreement it guarantees the debt will be paid and the person owing the money is liable and will be pursued by Visa or Mastercard in the same way all delinquent payers are pursued if they don’t honour the agreement . That said , there is a stringent credit check on all people entering into these arrangements so defaulters are expected to be low. Further, as the vendor collecting receipts payable your merchant fee is simply linked to using the Spenda software. However someone choosing to pay by instalments would reasonably expect merchant costs /interest for providing the facility. This is a win win for everyone- the vendor is guaranteed payment with minimal cost to them and individuals or businesses can choose how to pay their bills. When cashflow is high most businesses would choose to pay in full, but having the ability to go into a payment arrangement is a positive way to keep a business trading in lean times. Spenda addresses the needs of every segment of the market and it was clear at the AGM that the eyes are clearly on big businesses in the future not just small/ medium ones. Thus Adrians comment about uncharted waters when it comes to 500k + transactions on credit cards. I hope this clarifies all your concerns but if not ring the company direct rather than spouting inaccurate theories here
CRO Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
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