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clock Created with Sketch. 27/03/23
18:07
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Originally posted by Tekvest:
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I don't recognise that the market is warming because IMO SPT is simply treading water. It has no way of coming anywhere near break even in the foreseeable future unless it multiplied last year's merchant sales by at least 4 times, profitability is only a pipe dream, meanwhile its competitors such as Visa & MC, AmEx, Paypal and a vast number of domestic banks in Aus and the US have their own split payments options which are used to protect their patch. Those facilities can be used anywhere, anytime and the SPT facility is limited to merchants who are prepared to wear the increased charges associated with using it, along with potentially wearing the cost of financing their own inventory while waiting to be paid through the basic / non funded model. IMO it churns merchants, constantly having to replace them with new ones which makes a poor business model.
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Visa & MC are what we call in the payments industry the "card networks". All they do is authenticate & process transactions via a financial switch. Its the issuing banks that are able to structure the payments. So incorrect to say they have their own payment options. So all a MC or Visa credit card is its a means of being able to use the card network made of of issuers & acquirers.
