RE: RE: A CHIHUAHUA AMONGST PITBULLSok, I've been holding here for a couple of years. SCG has made many good moves and I liked the Iridium Mastercard when it was introduced last year but we have NO numbers from the company on numbers of active users.
The previous chart shows Greendot and Netspend with 3+ and 2+ million cardholders. The number of active cardholders is the key value driver for this kind of company. I think most of you are underestimating the difficulty of accumulating even 50,000 cardholders. It's very expensive and takes time. Comparing SCG to GreenDot is more than premature.
To gain market share in this new area, SCG needs a refinance and then an effective marketing campaign to educate Canadians to the value proposition of prepaid debit cards and identify how they can target cardholders who will use the cards and generate fees for SCG.
Looking forward to more information from SCG about their refinance and how they plan to market the debit cards.
Also curious if they have a complete mobile money package that has a chance to penetrate the South American market.