someone on hotcopper put me onto ONC the other day (apologies, I...

someone on hotcopper put me onto ONC the other day (apologies, I cant remember who, but thankyou) and I though I would pass on my findings.
ONC is indeed an interesting company in an interesting phase of its growth. Offering, essentially, debit cards as employee benefit schemes in China in order to take advantage of a tax break, the company has some real chances of making a bucket load of money in a very short space of time.
However,
A)the barriers to entry are very low,
B)the market relies very heavily on a tax break to make it work (and anyone in Great Southern Plantations recently will tell you that tax loopholes always get filled in),
C)The costs of administering are very high

This company has a very bright near term future, but unless it uses the funds to push for a longer term scheme, such as a real alternative to Visa and Mastercard Debit cards, then it will fall victim to the waning of a craze.

The reason I post this here is that ONC had been branded a better bet than Customers. While that may be so in the short term, I fear ONC is built on fairly shaky foundations and involves alot more risk than CUS. Whereas, CUS can justify it market cap easily on its current domestic operations, you are also buying a free option over China value in its share house at basically nothing.
In essence, CUS is low risk big blue sky, ONC is still high risk high blue sky.
for what its worth....