Some notes from the presentation:
1. Going to obtain an e-money issuing license in Euro.
2. Going to obtain a full banking license in Aus by 2019
3. China Payment division will launch a bill payment service (similar to Bpay) using Wechat pay and Alipay in a few weeks.
4. Sign up first client in Latin America in the next couple of weeks.
5. Looking for earnings accretive acquisition(s).
I had a short chat with the CEO on the sideline, asking him about Flexpin, Loyalpay, epay & TienPay; He said Flexpin still grows in Canada and the biggest competitor is Paysafe, Loyalpay transactions are strong. But epay & TienPay is slow in terms of rolling out their service. In terms of profitability, he reaffirmed there will be a small operating profit in the second half, though not in full year base.
Re the cash outflow in the latest 4C, he didn't go into much detail but said revenue will increase, and he did share my frustration with the share price performance in the last few months.
That's all from me.
Cheers
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