New Q&A.........................
Question: Does eConnect have any direct competitors today and aren't you concerned
that the "big players" can take away the whole business?
Answer: eConnect believes it has no "direct" competition.
If we did, the competitor would also have to be integrating their platform, let's call it the "xpad" platform on a web merchant's e-commerce site. As
you know, eConnect is presently developing a platform that allows for simple integration into any web merchant's e-commerce site. This involves the eCashPad being recognized by the merchants e-commerce platform as a payment option, in order to effect a financial card swiped Bank Eyes Only transaction.
We will be giving an update on that soon. Also, it would be to the benefit of both eConnect and the competitor with the "xpad" to work together in cooperative competition as regards web merchants, as web merchants will naturally make their e-commerce platform available to any device such as the "xpad" and the eCashPad.
We invite real competition for just this reason. If you see any real home "xpad" transactions taking place, then let us know. As far as a "big player" wading into the PERFECT industry, we believe that may happen after home ATM card with PIN is a working daily function of the eCashPad. Of course, the entrance of a "big player' will immediately validate and lend credibility to the reality of the PERFECT industry and for eConnect as a company.
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