At the end of the day why both MA & V are so successful (with market caps heading towards 1/2 Trillion) is due to the speed & uptime of the card network. Both MA & V before going public were owned by the banks. When you use your MA or V card its the local Financial Switch that authenticates the card from one of the acquirer's terminal s & then forwards the transaction to the issuing bank. What could be happening my view ??? is when a merchant (who has signed up to SPT) wants to do a split 1/ the issuing bank will debit SPT for the amount outstanding minus the first payment(like a end of day process). 2/ the merchant receives the full payment. 3/ SPT settles the outstanding amount with the bank. 4/ the bank would then have to credit SPT for the remaining 3 split transactions when they are due.
Would be great to find out exactly what sort of role SPT plays in the process & how they make their revenue from each transaction ? In the scenario I outlined their is no SPT software being used by the card networks. But their is a fair bit of accounting to keep track of, getting lists of merchants who have signed up to acquirers etc & SPT could have automated the whole process which is where Alon Feit experience in the payments industry could have been used ? (disclaimer : do your own research ).
SPT Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
