At the end of the day why both MA & V are so successful (with market caps heading towards 1/2 Trillion) is due to the speed & uptime of the card network. Both MA & V before going public were owned by the banks.
When you use your MA or V card its the local Financial Switch that authenticates the card from one of the acquirer's terminal s & then forwards the transaction to the issuing bank.
What could be happening my view ??? is when a merchant (who has signed up to SPT) wants to do a split
1/ the issuing bank will debit SPT for the amount outstanding minus the first payment(like a end of day process).
2/ the merchant receives the full payment.
3/ SPT settles the outstanding amount with the bank.
4/ the bank would then have to credit SPT for the remaining 3 split transactions when they are due.
Would be great to find out exactly what sort of role SPT plays in the process & how they make their revenue from each transaction ? In the scenario I outlined their is no SPT software being used by the card networks. But their is a fair bit of accounting to keep track of, getting lists of merchants who have signed up to acquirers etc & SPT could have automated the whole process which is where Alon Feit experience in the payments industry could have been used ?
(disclaimer : do your own research ).
- Forums
- ASX - By Stock
- SPT
- Watch This Space
Watch This Space, page-7630
-
- There are more pages in this discussion • 405 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SPT (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online