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Fintech Select Ltd V.FTEC

Alternate Symbol(s):  SLXXF

Fintech Select is a provider of pre-paid card programs, an online payment platform, and a POS cryptocurrency platform that all are in-house developed platforms. The company also operates a multi-lingual call centre that provides services to customers across all its platforms, and to third-party customers. These core assets have been unified and enabled to operate through separate divisions, all harmoniously working together to create a new environment for consumers and businesses alike.


TSXV:FTEC - Post by User

Bullboard Posts
Comment by Bobwinson Feb 09, 2010 6:01pm
280 Views
Post# 16768734

RE: i like

RE: i likeMastercard doesn't need to buy scg.  If SCG is wildly successful, Mastercard gets a piece of the action on every transaction.  SCG wouldn't even register a blip on Mastercard's balance sheet and they don't need to speculate on stock to generate continuous cash returns.  Mastercard generates transaction fees that are not subject to credit risk and along with Visa, have a near monopoly on the credit card business. 

This product does have tremendous upside for SCG because of the almost universal usage of credit cards for daily life in North America.  No credit checks, no exorbitant setup fees, no security deposit.  Very convenient and many ways to reload the card.  Should be very positive going forward for SCG.v.  However, due to the large size of the prepaid phone customer base and the revs that go with it, I don't expect an immediate impact from this product. 

SCG.v is already selling over 20 million dollars worth of prepaids every qtr.  This product will take time to get going but could be very large over time.  The reload fees and monthly acct fees are going to be very good for margins.

Bullboard Posts