This is my interpretation. There is much technical stuff about this product and other general services which I have no idea about. We will not be competing with VISA or MC or any other form of payment method in the general sense. In one way though, getting people to use the debit cards rather than using credit cards for any transactions will always be "competition" to the credit card industry. It just decreases the potential balance an individual will carry on the credit card, and therefore decrease fees.
If I were to open a business, I could not just say I accept Visa. I would need all that hookup that we all see in businesses-you know, that little box with all the numbers and an area for swiping the card, etc. Then, I really can accept visa. The problem I see is this. Would you trust sending your credit card number over the phone or through the internet to anyone who advertises products? They would then type in or use that usual method of crediting that we know today-the box, etc. This is all well and good, but do you trust the merchant? Also, isn't there as better way for the merchant? A safer more reliable way for the customer? Yes. Those companies that hook up to the internet for transactions should/would/will want to have their transactions handled by an outside entity. Let that entity deal with Visa and so forth regarding getting monies to the merchant and onto the customer's card. Let that entity deal with the debit cards, smart cards, and all the other forms of payment. Next, what entity do you choose? Well, first of all, one needs a solid e-commerce solution software system-sterling, network associates, WINR, and so on; you know, the works--->encryption, bug-free, credibility, etc. Then who are they(the software providers) using to process the transactions? Are they doing it themselves(in-house accounting? Are they using a banking structure that I know?
So, if you are a merchant and you want to go online, you need the software to process the transactions, and you need the financial outsourced support to be solid and reliable, and do not forget, credible so that customers will want to use it. I have been posting some information on general online banking, online e-commerce solution providers, and so forth. It is obvious to me that people will want a product that is credible. I do not think they care if it is WINR, or Sterling, or whoever. Nobody has heard of these entities, but they have heard of Landesbank, Commerzbank, and LGT bank in the case of WINR. It is the banking that will tell customers-yeah, this is a good site to be doing online transactions. It may only have WINR's seal on the site, but with time and research, it will be automatically associated with those banks. I posted previously on this relationship that many find the most valuable of all for online teransactions---> the financial backbone!
Once you have this structure in place, that entity will accept whatever payment types-Visa, MC, AMEX, Diner's, whatever. WINR is not competing with these credit card companies in this manner. They accept them as forms of payment, so they actually help the credit card companies.
So, the advantage of using WINR for online transactions is that they have the financial backing of arguably the best banking system in the world. Maybe there are better, but as I have said before, there isn't much that could be, and I like WINR's chances with the backing they have signed, sealed, and delivered to us. Merchants will feel very comfortable using the system knowing that it will be very reliable-of course, demonstrations will be necessary, and as soon as the system is testable(as of this week per latest press), merchants will see with their own eyes what the capabilitie(multicurrency exchange, etc.) are. That is what this stock price is waiting for.
The gaming industry has nothing as credible as what WINR is building to provide this structure. WINR is here, first, and now. They will handle the transactions and go one step further-further than any other system right now. They will provide you with debit cards to access your cash anywhere and also to use for transactions like any other debit card.
So, WINR has a system for gaming, and they have a system for online transactions. They are one in the same. It is a financial online services system managed by Dr. Proksch and marketed by the CMS to the CLT. Looks pretty solid to me. You had indicated that WINR was changing like the lizard, but they have always had one goal above all-a software system for online transactions. They specifically wanted to be sure that the gaming industry would have something better than anything currently available and it is about to come to fruition. The other applications(which have been mentioned before) from the same software are as easily marketed for use, so they are going for it with the help of the CMS.
Miller |
