so you want to know who is monoco?, page-25

re: summary Quick
In the press release there is a heading that reads

Monoco Limited Technology answers the following questions of retailers:

• “Why can’t I have a payment system without card charges”

((they are implying that the retailer will no longer have to pay fees to Mastercard etc))

• “Why can’t retailers have their own transaction system”

(they are implying, that the retailer can set up his own form of payment system)

• “Why can’t I have a real-time system that validates the card and user at the point-of-sale”

(this is not a bad plug, but other banks are already working toward this, there is now a system that sends you an instant message on your phone after someone has used your credit card)

• “Why can’t I have a transaction system which audits every transaction in real-time”

(read above last example, they are trying to appeal to the retailer to stop fraud but the best person to stop it is the card holder)

• “Why can’t I issue my own payment cards to my own customers with a preferential APR”

(are these guys serious ! Bunnings wharehouse issue cards to our employees but they are not biometric and they are not credit cards.........it's not a bad idea but it means you have to carry a single card for every single retailer, people just want one card that does the lot....e.g. a biometric mastercard that alerts you via mobile phone that a transaction has been made on your card).

• “Why can’t I combine a credit card and trust card for the benefit of my customers”

(A trust card is similar to what our employees have, after 2 years of use we haven't been ripped off yet, BQT is suggesting that the commonly used trust card gets converted to an internal credit card)

• “Why can’t I have a transaction system which can eliminate account fraud and identity theft”

(I don't like this angle, in most cases the retailer gets paid, even when some one uses a fake card....so why would the retailer want to police fraud ?...it's the customer and more so the banks that suffer most from fraud)

• “Why can’t I receive a full payment of all retail sales to my customers”

( I don't understand this line ?)

• “Why can’t I have a retail counter that issues cardware products for all financial services”

(So you walk into Myers and apply for a credit card that is biometric based, this is not a bad idea.....but you can only use it at Myers..........the customer wants one card that pays his bills at all shops)

• “Why can’t I be a card issuer”

(they are saying the retailer no longer needs mastercard of visa, they can issue their own credit cards. I have my doubts as to how big this will be.....the retailer may see som advantages, but I don't think the consummer will take up the idea)