Instant payments are here, page-6

This is such old news... it’s been in making for a few years. I asked the company negatice impact related to this national payment platform in 2015 and here is the answer. Very much in line with Steve’s comments above.

Life is too short to keep downramping everything one has sold... celebrating ones new wins should be way more fun imho.

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“This has been in progress for a number of years and will launch sometime
around 2017 or later. That said, we don¹t expect it will have any negative
impact on our business, and international evidence would seem to support
that. I¹ll give you a couple of examples:

- In our consumer lending business - i.e., the distribution of payday
loans to our cards, the cardholders like the anonymity of our solution -
in other words, they don¹t want their banks to see if they have taken out
loans from other another non-bank financial institution, in case that
results in them having access to bank credit denied, or their interest
rates moved up.

- The same applies to the gambling programs we have in market. In the UK,
this same real-time bank settlement has been in place for some years, yet
there are several large prepaid debit companies in the market. There are
also other reasons why we don¹t expect the gambling operators to adopt
direct payments to bank debit accounts - if we look at one of our
customers that has over 500,000 customers, if they wanted to pay winnings
to the debit account they would need to hold bank accounts on all 500K
people - but if the customer changed bank details and didn¹t notify the
gambling company, the funds would go to the wrong account and might not be
recoverable. If their database was hacked there could be bank details
exposed online for all individuals. Or they can have one program (ours)
with one bank (ours) and 500K cards being funded from that account, so
it¹s more efficient and lower cost than the company managing it itself.

- I think the NPP will work well for inter-bank payments and routine,
regular payments, including bill payments, or at least that is the hope of
the RBA. Our business is focused on highly customised solutions with
bespoke IT development and commercial solutions, so it¹s not the type of
payment that the NPP will be focused on.

Thanks for your continued investment in EML.”