These are 3 of the excerpts I valued from today's ANN.
Excerpt 1 - confirms my belief re ISX's lack of competition (1 & 3 below);
(1) .... iSignthis eMoney (AU) Pty Ltd (‘ISEMAU” "does not consider any existing or recently licensed standard ADI, or restricted ADI neobanks as being competitors to the Company".
Excerpt (1) above and (2) below demonstrates ISX's national and international significance and we know of the range, quality and performance of ISX's products to date.
"(2) The PPF class of ADI has only been previously issued only once before by APRA, to Paypal Inc (NYSEYPL)."
"(3) However, Paypal does not have account facilities with the RBA, and relies upon other ADI’s to provide it access to the cards and payments networks."
New acronyms appearing in today's ANN for newcomers: "The Purchased Payment Facility (PPF) Authorised Deposit Taking Institution (ADI) license type applied for by iSignthis eMoney (AU) Pty Ltd (‘ISEMAU” has a specific advantage to the Company over a standard ADI....".
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Ann: Australian License Update, page-22
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