Andrew, Slate, Ron and John:
I agree with your points and I believe that there is a wide range of non-digital-content e-commerce activities in which WAVE/EMBASSY can have a central participation, including product delivery transactions in which the WAVE/EMBASSY function replaces just the usual credit card authorization and billing parts of the transaction. In such activities it would not appear that WAVX would have the physical fulfillment liability any more than AMEX, VISA, or M/C now do. I would not be surprised if eventually, since we are a SERVICE company, that type of activity becomes reasonable to undertake.
However, my interpretation of Peter's and Steven's objective at this particular time is to try to immediately fill the commercial needs that no one else can fill (metering and content distribution control) and to leave the competing with the less challenging, already-established routine financial servicing of product sales for future undertakings. Why immediately allocate resources to take on and compete with AMEX, etc. on their own turf, where they have set the rules, when we can concentrate on the area of content control with no established competition and with us setting the rules?
If, indeed, my interpretation is correct, it appears to be a sensible way to start out. It also lets us begin a relationship with the card companies in which we are bringing them new business, rather than taking away business from them.
JMHO
Steve |
