Originally Posted by
mondograss
The thing with the US market is that at a banking technology level it's fragmented as hell, particularly for the SME's. NZ and Aus are way ahead of the US in this regard and have been for a long time. As someone above pointed out, in the US they still use cheques, and a lot of cash. That makes it really tough for a company like Xero to make inroads because they are very dependent on the electronic transaction mindset and their integration with the banks. Once they get the big banks integrated they'll start to see some real movement but it's going to be hard graft. Ultimately though, once the US wakes up to the notion of a cashless society they'll see exponential take up, but they've got to be well positioned for it to happen or they'll get crushed.