Q: Your comments please on the recent quarter. Do you like the space they are in? What is competition like, are there any other public companies focusing on payment processing to gig economy workers? Are you familiar with the management team, do you like them? Is the company on your radar to add to your coverage list?
Thanks.
Thanks.
5i Research Answer:
We have several comments now posted on earnings and other issues, and like space in general. We know the management team a bit but not fully. PAY's main competitors, from its filings, are : Branch, Gig Wage, and Brex. There is always competition, and it is hard to specifically analyse its vulnerabilities. It lists more than 10 advantages it has, including: first mover, lower costs, private and custom programs, global capacity, expanded infrastructure, knowledge of gig workers and loyalty based rewards.