is this the money tree i was looking for

Customers is the largest independent operator of ATMs in Australia with approximately 5,500 units. They derive revenue from transaction fees which have essentially become "deregulated". Current transaction fees for Customers are generally $2.00 each transaction. Customers competitors are charging $2.20 - $2.80, leaving scope for enormous additional revenue genration with a relatively fixed cost business model. (I think it's like a license to print print money!)

Here’s my summary and evaluation of the key points from the Open Briefing with Corporatefile released today. The original file, without my editing, is available here on HC.

Amongst their multi-faceted plans Customers aim to enter NZ with an ambition of securing about another 1000 units in that market which will contribute 12% - 15% of future earnings.

There are some 13,600 ATMs in Australia owned by financial institutions (rather than independents) and there’s growing recognition among financial institutions that updated, modern ATMs and the software that complements them are good for retaining and growing customers.
Customers has announced a partnership agreement giving them rights to distribute Nautilus Hyosung’s latest financial institution ATMs in Australia. Nautilus Hyosung is a subsidiary of the US$2.3 billion market cap Korean listed Hyosung Group and supplies ATMs to leading financial institutions globally.
The partnership is important because it gives Customers a big advantage in a new market – Nautilus Hyosung is at the forefront of selfserve banking and financial services hardware and software and will enable us to provide a premium service.
(note: self serve banking!)
Customers is moving to open opportunities for EFTPOS, pre-paid cards and on-line payments by establishing their own ‘driving’ platform.
There are three parts to processing an ATM transaction: driving, where the ATM talks to a driving platform that removes the identity of the ATM and sends a financial package to a switch; switching, where the transaction goes through to the acquiring bank; and acquisition. We have no plans to switch or acquire but we want to own the driving of our ATMs as it will be financially and operationally advantageous for us. Our driving is currently done by Calypso and by SPS.
We believe the capex will be around $2.5 million, with a pay-off of around 18-24 months to bring this activity in-house. Owning our own driver will also help to facilitate exciting growth opportunities with regards to services including EFTPOS, pre-paid cards, and online payments.

Rebates to ATM site owners have increased by around 3 cents per withdrawal (currently equals 1.5%) across the network which would add $1.4 million to $1.7 million to our opex over the course of a year.
We note that some of our competitors are charging $2.20 to $2.80 per transaction, whereas we’re charging $2 across the bulk of our network.

(roleyman says this gives scope for fee increases from 0% – 40% - that equates to a LOT of increased revenue, against an almost static cost base OR enormous pricing muscle to increase market share)

Rises in the price of the service we provide would more than cover any pressure for higher rebates as we negotiate new contracts.

Customers is targeting double digit compound EBITDA growth in the period from 2010 to 2014.

I bet they are !!!!!!!