Current business transactions worldwide are 25 trillion dollars annually. The majority are in cash. Payment gateways generally only can service those individuals with access to the big credit cards “rails” like Visa or MasterCard or through a store front.
Coming soon, anybody with a mobile phone account will be able to deposit cash at a local general store wherever they currently top up their mobile phone accounts and use their account or wallet as a debit card to access purchases through the mobile internet and have access to a global market place.
No longer do they need to have access to a bank and therefore the telcos will have an additional revenue stream, disrupt banks and access revenue from people doing commerce that are currently inacccessible to the credit system. They will start to profit from the infrastructure they provide for others and it will be revenue accretive for those networks,
And you guys are worried about the SP to do a credit raising! Think about the synergies for an Apple Pay or Google pay (for example) and the potential for a telco JV (or a new MVNO) to Access the current cash based purchases as we move to a cashless society. They could also link this to the current rails in the future as well.
Maybe our management aren’t smart enough to see the value in their tech or maybe you are not smart enough to understand the strategic plan of our management!
Are you guys really that small minded that you can’t see the potential of this opportunity or do you prefer not to and just enjoy having a whinge?
HotCopper & The Market Online will be live From the Floor at the Mining News Select Conference and we want to bring the voice of our online audience to the show with us.
