As much as i really do not like the lack of communication and clarity around the business plan from the Company i am still very excited about the Payment Service Platform they are building, especially after reading the Preliminary Final Report which included the below.
"The Company is one of the first to be certified to process transactions using the Mastercard Network GatewayServices platform and the first newly certified Mastercard processor in the last 5 years. The Payments Processorcompleted Mastercard certification in October 2018 which was a critical milestone ahead of launch. It completedall test transaction cases in the final stage of certification and is eligible for registration as a Mastercard thirdparty processor using the Mastercard Network Gateway Services.
Once launched, the enterprise solution will initially target more than 7,000 FDIC (Federal Deposit InsuranceCorporation) banks, 6,000 credit unions and a host of innovative players in the financial services arena acrossthe US with innovative mobile banking services. The addressable market in the US is approximately a US$50billion market in 2019, growing at approximately 20% per annum through to 2025."
This is why i am still holding as the opportunity here is quite literally massive and for a Company only valued at $6.5 million the gains could come quick and fast for us shareholders. I would hope to hear something more about the Payments Platform before the end of the year and hopefully its coupled with an annoucement regarding a successful roll out to customers.
Fingers crossed.
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