Shouta takes 7% of the pie.EML normally takes ~5-6% for gift...

Shouta takes 7% of the pie.

EML normally takes ~5-6% for gift cards, but hard to imagine that's the case here because there's hardly anything left for Shouta. This probably fits into the general moving money category at ~80bps (can't remember the name for that classification) although I'd be happy to be wrong.

So if Shouta gets $100m worth of "shouts", EML takes ~$800k revenue. If Shouta gets $1b worth of shouts, EML takes ~$8m. But at least for the next few years it's much more likely that Shouta is doing just a few million, with EML making tens of thousands.

The market won't and shouldn't think much of these kind of deals in isolation, chances are this business does not very much for quite some time. This is a seed funding round so it won't even be launched for quite some time. Not to mention that it does nothing that PayPal, Apple Pay, Google Pay, etc don't already do - never mind your Bitcoins etc.

In summary, a pretty ordinary idea that isn't going to get traction for quite some time and even won't drive significant revenue. I could be wrong and this might be the next Afterpay. But probably not.