nice to see marc still going strong he worked very very hard at it in the early days , he was never afraid to have a go.
hi dravyk always good to see you too.
the card schemes are going to make the biz harder and harder over the next few years. i think it is going to take a little while for the banking system to catch up to the internet still. certainly the adult internet is going to be hard during that time but it will bounce back, once proper online banking is fully intergrated and people can easily pay through their banks accounts. the business model may change but the profitability will return. the demand for the product will always we strong and the market always finds a way, doesnt matter what happens the card schemes and the governments cant beat it.
the problems we had with visa were due to our success as a business which ultimately led to our problems , we were punching through 160,000 sign ups a month at one point ( and serge can vouch for that as he handled part of our payroll ) - we were too successful !!! from their the business had to be scaled back to a manageble level and the guys that own it now are still performing well. maybe it is a time to scale back a little and wait and see.
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