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  1. #21
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    Peoples thoughts on this. Seems to be a sleeping dragon. TBF quietly aquiring shares in the background and earnings up on last year. Smartpay systems more and more prominent in shops and no sign off them being replaced by anything else

  2. #22
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    announcement today and biggest riser on NZX today...

    https://www.nzx.com/announcements/315464

    any thoughts?

  3. #23
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    First mover advantage in the future of payment services, its a pretty good step to at least in future proofing the business. Not sure how much it'll at to the bottom line for now, though if you went to say China and see how influential Alipay or Wepay is, you'd think NZ was a third world country with its eftpos terminals still being the main way to pay.

  4. #24
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    Anything link to Ali pay is like new blood injection it change the landscape

  5. #25
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    Quote Originally Posted by smiley View Post
    Peoples thoughts on this. Seems to be a sleeping dragon. TBF quietly aquiring shares in the background and earnings up on last year. Smartpay systems more and more prominent in shops and no sign off them being replaced by anything else
    Watching carefully........Alipay contract looks good, but what does it mean in terms of actual revenue?

    The world seemed full of opportunities when WYN was announcing all its great new contracts, and PLX (remember them?) was announcing contracts with MacD's and IKEA etc..... Contracts are one thing, actual revenue is another, and profits remained elusive.

    There are other risks in where technology in this field is headed. Apple Pay and other's are hovering.

    I welcome more informed input and am merely watching at this stage. Early days.

  6. #26
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    I don't know if it's informed comment, but here we go. . .

    There are about a squazzabazillion debit and credit and other cards out there, each of which needs to be read somehow, by something, at the point of sale.

    Smartpay provide the readers, so they are going to make some money along the way.

    But what is the online card spend as a proportion of total card spend? And is it rising?

    I have no figures, but I think it's rising. So the proportion of card transactions which don't require a "card reader" is likely to rise as well. So Smartpay are in an expanding market, but a market where they supply hardware which is less and less necessary.

    The U.K. has a number of fintech companies - Mondo and Revolut spring to mind - which are app-driven. Sure they are card-oriented at the moment, but their primary focus is the app.

    Just like Apple Pay, Android Pay, et al.


    After all, if you can pay with your card, and you always carry your card, why carry cash as well, and if you can pay with your phone, and you always carry your phone, why carry a card as well?

    There are going to be a lot of cards about for the foreseeable future, but they are going to lose market share to the app-driven competition.

    The question is the uptake of phone/app payment systems, and the speed of that uptake.

    And how can Smartpay diversify into the new payment ecosystem?

  7. #27
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    Well said GTM... good helpful post which echo's my concerns re the longer term viability of this one.

  8. #28
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    Quote Originally Posted by Left field View Post
    Well said GTM... good helpful post which echo's my concerns re the longer term viability of this one.
    Think of it in terms of investing in a company which makes printing machinery for machine-readable chequebooks.

    1960 No market, but they have them overseas, let's take a punt. . .
    1970 Wow! Everyone's getting a cheque book! Looking good
    1980 Absolutely amazing
    1990 How are these new card things doing? Better keep an eye on them
    2000 Ah hmm what's all this about online payments again?
    2010 The money's coming from the maintenance division, not new sales. . .
    2020 Your guess is as good as mine

  9. #29
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    PayPal just bought IZettle for $2.2B because they have a good footprint in terminals and apps in Europe.

    https://www.cnbc.com/2018/05/18/why-...2-billion.html

    SmartPay seems to have the same footprint in Aust and NZ. Much smaller market but good acquisition at some stage for PayPal or some other global player?

    Look how similar their pitch is:

    https://www.smartpay.co.nz/
    https://www.izettle.com/gb

    lots of offers on the ASX seem to be keeping a lid on it but total only $400k..

    disc: long and trying to buy more.

  10. #30
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    another company that looks to be in the same business (but in the USA) as SmartPay: https://www.cpay.com/

    just sold 15% of the company for $840m USD valuation vs $23m for SPY.

    my uneducated eye, says that there is so much M&A activity happening in the payments space, that it wouldn't be a big surprise if another deal (like the abandoned Pemba Capital opportunity, in 2017) came along soon.

    disc: still long, still bidding.

  11. #31
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    I note that the buy side was empty for part of the day today.
    Might take a fair kick to get this dog moving again?

  12. #32
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    Did anyone catch the AGM earlier in the week? I'm keen to know more about the progress (if any) of monetising their NZ base.

    Australian acquiring seems to be going well. I've recently seen listings on Seek for field agents, sales staff etc so hopefully terminal number growth accelerates!

    Onwards and upwards hopefully.
    Last edited by co0p; 26-09-2019 at 06:46 PM.

  13. #33
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    How does a company growing at 3% and accumulated losses of $40m become a good choice for putting your money in? Annual loss of $2m+.

    Expenses increased by $4m and revenue by $500k. I don’t think investing in companies flogging eftpos terminals is a wise move. Claims by the Chairman that his new director hires will/have helped with sales and marketing is a joke. Time for replacements?

    It leads to the question: are they really better than the Australian incumbents? Does anyone care?
    Last edited by Schrodinger; 26-09-2019 at 10:59 PM.

  14. #34
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    Quote Originally Posted by Schrodinger View Post
    How does a company growing at 3% and accumulated losses of $40m become a good choice for putting your money in? Annual loss of $2m+.

    Expenses increased by $4m and revenue by $500k. I donít think investing in companies flogging eftpos terminals is a wise move. Claims by the Chairman that his new director hires will/have helped with sales and marketing is a joke. Time for replacements?

    It leads to the question: are they really better than the Australian incumbents? Does anyone care?
    I'm guessing you didn't see it

  15. #35
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    Wow! Achieving that price for the mature and less profitable part of the company is a great result.

    Question is, what value will the market assign to the cashed-up, more profitable and very fast growing Australian operation.

    Onwards and upwards.

  16. #36
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    Quote Originally Posted by co0p View Post
    Wow! Achieving that price for the mature and less profitable part of the company is a great result.

    Question is, what value will the market assign to the cashed-up, more profitable and very fast growing Australian operation.

    Onwards and upwards.
    TRANSACT: SPY: Sale of NZ Business and Assets .

    A great result indeed for what seems a pretty mature business.
    I have bought an initial parcel on the ASX (SMP).

    Over one million terminals in Aus with the push to cashless society increasing. Cashback coming and maybe takeover sharks circling? The time is ripe for SMP to grow fast after years of not. We will see. DYOR

    https://egpcapital.com.au/wp-content...2/2019_Nov.pdf Great analysis page 5


    SHINTR: SPY: SPH Notice - Milford Asset Management Limited

  17. #37
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    I took a small position on smartpay post-announcment. Hoping to catch that cash distribution that no one seems to really care about? It's 20c for every share...

    I assume people are weary of the deal with verifone going sour? Or people don't want to get invested in a company that seems to be a little bleak in terms of its future?

    I do note there has been significant algo trading on this stock - wonder if big institutions are trying to keep the stock price down so they yield higher.

  18. #38
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    Hi Cadalac , Its been a dog stock for re 7 years so people have permanently turned it off in their investment minds by the looks of it. But what a price and what sudden transformation and great value even now imo. DYOR


    " At the end of the month, the market capitalisation of SMP was about $77m; with about $67m coming through the door once the NZ business settles (less any costs/taxes)
    . In simplistic terms, you’re paying about a $10m market capitalisation for a materially better business than the one that just transacted for $70m. To say we still think the current market capitalisation of SMP materially undervalues the business is to significantly understate our view of things."
    https://egpcapital.com.au/wp-content...2/2019_Nov.pdf

  19. #39
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    I'm really excited about Smartpay's prospects.

    I see their long time tech partner are releasing a suite of new products into Australia. I hope Smartpay are all over this!

    https://www.itnews.com.au/news/banks...erminal-535496

  20. #40
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    Guess people are waiting for the deal with verifone to actually be formally accepted?

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