We announced yesterday that Digatrade’s Securter Systems subsidiary has its first PSP working relationship! This is an important development. Our fintech strategy is great on paper, but getting that technology into commercial use is how the money will be made for our shareholders. This is what we are now closer to achieving. We will be providing the name of our first PSP partner when we receive consent and certain confidentiality undertakings have been satisfied.
With our first Payment Service Provider Agreement now in place, we have a commercial path to bring Digatrade’s Securter credit card security technology into the international credit card payments system. In other words, we are now working with a mainstream payment service provider in a manner that leads to monetization of our technology.
Our PSP partner is a “real world” operative – they process billions of dollars of credit card transactions and earn fees from merchants and cardholders for doing so. Digatrade’s business model is to share such fees when such payment service providers use our technology.
This PSP agreement is only the start – but it is most important step of all, because it demonstrates that we are moving from the theory of Securter technology into a process of making money with it for Digatrade shareholders. Getting the first working agreement is always the most difficult. This hurdle has now been overcome.
We have other initiatives in the background that are advancing toward monetization. They will be announced as soon as possible. In the meantime, we will be sharing in this blog more industry insights that clarify how significant Digatrade opportunities are moving forward.
The Fintech and payment sector is a fascinating field, and lucrative for successful participants. It is insulated from the trends of some consumer products being “hot” and others “not”. Digatrade/Securter benefits with fees regardless of what people purchase. Another attractive feature of this industry is that there are high competitive barriers to entry – our patented technology gives us an “in”. Once there, we can expand. With this first agreement, we have arrived “into” the industry. The door has been opened, and we are now on the inside, moving in and unpacking, preparing to do business and benefit our shareholders.