Everything about how they make money and the value of the business model is correct, but i'm not sure its the time to be bullish on schemes:
- National switches are surely eroding domestic transaction volume in the markets where they are deployed
- Im not aware of a schemes playing a central part in any of the big wallet based payment systems taking over POS
- Non-bank / non-scheme pay later systems are growing extremely fast amongst younger demographics at least here in SEA
- (Im guessing) that with increased financial literacy the profitability and popularity of credit cards is decreasing
There have been some really interesting developments (Eg MC assisting international cash out for large marketplaces), but the core business isn't looking anywhere near as stable as it was 10 years ago.
- National switches are surely eroding domestic transaction volume in the markets where they are deployed
- Im not aware of a schemes playing a central part in any of the big wallet based payment systems taking over POS
- Non-bank / non-scheme pay later systems are growing extremely fast amongst younger demographics at least here in SEA
- (Im guessing) that with increased financial literacy the profitability and popularity of credit cards is decreasing
There have been some really interesting developments (Eg MC assisting international cash out for large marketplaces), but the core business isn't looking anywhere near as stable as it was 10 years ago.