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$1.07 southern cross payments ltd

Particularly:the Company itself changing its systems without...

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jacklesd

777 Posts.

159

29/04/20

19:15

Post #: 44333140
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Originally posted by retiredyoung: ↑

In my opinion this is a dreadful result.

It appears as though the cash receipts were going to be less than the Dec quarter, even if they had not lost three weeks of processing.

The following is very concerning:

The Company failed to process transactions across a number of card schemes as a consequence of either the scheme itself being technically or commercially un-responsive, arrangements with the schemes being subject to further commercial or due diligence requirements, or the Company itself changing its systems without taking into consideration the impact on the scheme.

Processing to merchants across the Visa network was also suspended for parts of March pending response to Visa re queries on ASX “investigation”, concerns re “derogatory media” and the focus on high risk merchants.

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Particularly:

the Company itself changing its systems without taking into consideration the impact on the scheme.

I mean, really, c'mon guys!

ISX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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