Citibank Equal Payment Plan, page-12

Dear Mr French Orchard,

You have posted:

"I think most if not all of your concerns have come around and around on these forums since the beginning, and certainly SPT has not clarified their product very well, which could be very dangerous to the SP. IMO the biggest advantage of SPT's offering is that it is absolutely seamless at point of sale - no applications, no phone calls, no waiting. As far as I can see, no other product is as seamless, and others (eg APT) increase a customer's debt risk. According to UK and USA legals SPT charges a higher fee to merchants if they wish to be paid upfront, and we can assume this will be the case for Australian merchants. Large online and other merchants who have strong revenue/cashflow will not worry about delays in payment - and they will have the above-mentioned option if they do. Fees for this depend on value of the sale, but they are not very different to other products out there - eg Afterpay. The lack of merchant uptake at the moment is a concern. It's a waiting game."

The family thinks that Citibank Easy Payment Plan looks very straightforward and could be probably used in other places soon. Citibank EPP appear to already have 1,000 participating stores in Singapore alone, but we are not going to conjecture how much larger their Easy Payment Plan is going to become. Do you think that a merchant is more likely to use SPT or is the merchant going to more likely use something like Citibank EPP?

You have also posted: "In relation to SPT, a lot might rest on this talk of patents."

Family is wondering that if SPT has a patent, then could SPT possibly sue credit card companies for patent breach for introducing their Easy payment Plan and thus make a lot of money? We are rather curious if this could happen. What are your thoughts on such an event happening?

We hasten to add that we are not very financially literate, so we were just asking these questions for clarification to clear our minds, as we are wondering whether it is good for family to invest in one or two shares.

Finally, do you think family should apply for Citibank EPP to help pay off our Christmas turkey this year? We need to buy a very very big turkey because there are so many mouths to feed inside the family, and also a few outside.

Blessing of the Lord
Alvin the Idiotmon