Ann: Limepay agreement with Lessn to process all Payments Volume, page-73

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    I would expect that as Lessn's payment volumes increase that they would likely qualify for better transaction rates and so the % revenue will decrease as the payment volumes increase to certain milestones and volume discounts are achieved.

    Also, that $1m in revenue to Limepay/Spenda will be gross revenue, so you'll need to deduct from that the costs incurred by Limepay/Spenda to process the payments. Having regard to LImepay's FY'24 $2.8m revenue and $1.4m GP, expect there to be circa $500k of costs incurred by Limepay to process the payments.

    Similar to the comment re volume discounts for Lessn, as Limepay/Spenda's total payment volume increases they will likely get better rates from MC/Visa/Fiserv/Amex.
 
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