Digital Brand Media and Marketing Group Inc (DBMM)

[davidam]

Actually I think you need an education . I will admit I am learning all the time too. But I don't throw darts at things I dont fully understand until I get the info right. When I don't fully understand something I ask and am confident there is a truthful good answer from this great company in the making. So far they have proven themselves over and over to me
RTGV is going to make me wealthy one day is my opinion


Read and gain knowledge
On 7th December we issued a press release outlining the strategy for the payments division and we've talked about it a great deal since too, so there should have been no surprises, unless this person has been overseas, without internet access for some time???

I quote from the release:

Outlining the Payment Systems Division's strategy, Jasper Dalgliesh said: "Our development strategy is designed to maximize return on investment from the technology as we scale towards becoming a fully operating e-money provider. We're packaging iPayu into market specific applications that need to meet two criteria: they must address a real need right now and they must bring blocks of end-users into the system.

"Our first application is targeted at e-commerce sites with large numbers of affiliates and the test bed for this application is one of our own companies, Audigist.com, which sells downloadable MP3 tracks on behalf of independent artists. The compelling need is making multi-currency account management and artist royalty settlement more efficient as music is sold. Audigist brings 800 artist accounts to iPayu and the site is growing all the time.

"Right now, artists earn a percentage of the sale price which they are able to request by UK bankers check on a quarterly basis. But, writing out bankers checks for so many artists is costly, hugely inefficient and not artist-friendly as 60 per cent of the artists on Audigist.com are based outside the UK. They have to pay huge fees to cash those checks. With iPayu plugged in, each artist will be set up with an iPayu account, so we get 800 new users into iPayu and the artists will see their royalties appear in their iPayu accounts in real time. They will be able to withdraw their funds on demand, direct to their bank, and there will be no need for Audigist.com to operate manual payment runs, saving significant amounts of both time and money. In addition, Audigist.com will be the only company of its type offering real-time redemption giving it a huge competitive advantage when it comes to signing up new artists."

So... we are intending to use iPayu as e-money. In fact, it is capable of being used in this way right now. The technology is complete, it's tested and its ready to roll. But, to be a valid payment method and a true alternative to cash, it needs to be able to spent in stores and online. To do that, we need to be able to integrate with electronic point of sale (EPOS) vendors' and popular e-commerce shopping basket vendors' software. These vendors won't go to the expense of integrating new methods unless there is a sizeable consumer membership using them and consumers won't sign up unless they can spend their money when it's in the system.

So... our strategy is to use the unique capabilities of the system to create industry specific applications and then sell those to B2B customers. When they turn their systems on and give their users accounts, they are giving them iPayu accounts, not just account for their applications, so we gain whole blocks of users each time we make a sale. When we have critical mass in a territory, we'll apply for our authorizations and start running emoney apps.

The opinion that delays and competition has changed our strategy is wrong and wild speculation. The opinion that e-money payment is not worth the effort is based on a gut feel, not an analysis of the market or an understanding of the technology. iPayu's unique construction makes it extremely valid and gives it a totally different approach to e-money management that other companies. I won't give away our competitive advantage here, but we have a valid place in the market and we're out there speaking to potential customers, who like what we're doing.

Now, comments from the first email:

Why would they not use a payment service like Paypal...that already has name recognition, reputation (ie trust), with a built in user base of 87 million users?? A proprietary payment system with no user base..from scratch...just doesn't make sense..imo.

I have attempted to answer this above with regards to e-money but there is more. Paypal is a good solution and PayPal mobile does allow value to be transferred from a mobile phone, but it's not the same as iPayu and it's used in a different way. We are embedding the iPayu tech into applications that do specific things for B2B customers and then selling them solutions...


Further thought...
So they are going to establish / utilize an unknown payment system with no user base, on an unknown music site with no user base.
Rational logic says it will be a long time before any measurable revenues are gleaned from this...imo

This is answered in some detail above. If he'd read the December release he'd realise that the short term revenues from iPayu are coming from licenses for B2B products and transaction charges


Web has many well established music download sites, how are they going to drive traffic to this new unknown site?

Yes the web does. And we do have a strategy for driving both traffic and artists. But, I can't share it here. I think this person is missing the point however! Audigist is a good small business and we're growing artist numbers already, but it's never going to be the main show for RTG... CloudChannel is. Audigist allows us to reach out into a different part of the market and it also allows us to develop solutions and trial them internally on a real business before releasing them to the wider market. This is why Accounts iPayu is first being integrated with Audigist.



There a several already established online payment systems, how are they going to convince new users to their new unknown proprietary payment system? If they restrict payment to Only their proprietary, they will Not get buyers.

Err, yes of course. We're not intending to restrict people to only iPayu and we've never suggested that we will.