At 10:39 AM 12/29/2000 +1300, Sidd wrote:
>Please realise I am not trying to suggest that SR's business plan (as
>I understand it) is BAD, but I just wish to know EXACTLY what it is so
>that I can use their (promised) excellent services in the correct
>context. So far SR (at least in part) looks very much to me like a
>banking institution, and the fact that it uses a PDC instead of fiat
>currency makes very little difference. In a bank, the underlying
>currency is of absolutely no consequence, the system is just "numbers
>in ledgers". A bank is a bank and as long as SR is used with that in
>mind, it may indeed turn out to be a very GOOD bank.
Our business plan does not call for any investing of funds at
least not in the foreseeable future. However, we do not want to
be prevented from investing assets at a later date, if it seems
profitable and practical to do.
We are not a bank. Our debit cards were clearly checked by
banking authorities who agree they are stored value cards, and do
not fall under banking regulations. Therefore we are not a bank.
Our business plan calls for us to acquire many merchants who will
accept Standard Currency, initially online, and later
offline. With pin-based stored value cards that can be processed
through POS devices, offline is not as difficult as it may
appear. We have four type of agents:
1. Infrastructure Agent - who has links to the banking systems
in a particular country or region. These agents must also have
IT capabilities.
2. Exchange Agents - who serve a similar function as market
makers with e-Gold - they exchange funds to Standard Currency.
3. Customer Acquisition Agents - who acquire customers for any
of our products, who are then passed on to exchange agents for
conversion of funds.
4. Merchant Acquisition Agents - who acquire merchants.
Obviously there are commission or wholesale pricing structures
associated with each of these agent types.
Initially we will deal with consumers looking to transact
business using gold-based transactions. Then we go on to folks
who work in a country (i.e., U.S.) and have to send money back
home (i.e., Mexico, China, India, etc). For them, our debit card
process works very well. After that we go to a micro-payment
process, i.e., payment for goods or services on a time-based or
content-based basis. For example, an online advisor may charge
you for advise on a time basis. Or a newspaper (i.e., NY Times,
WSJ) may charge you for page views.
Our major emphasis eventually will be the entire retail supply
chain, i.e., payment processing from consumer, to retailer, to
wholesaler, to importer, to manufacturer.
And, yes our support is excellent. At least that's what our
customers and agents are telling us. Comments regarding the
speed of response, or the fact that they can actually speak to a
live person on a telephone, or the knowledge of our support
group. I think our VP/Controller says it all very clearly - "We Care!"
I hope that answers your questions. And I truly appreciate your
comments, as perceptions of what we are all about are critical
for us to understand. As I always tell folks - "perceptions are
often reality." If we can manage perceptions, we will be very successful.
Let me know if there are any other questions.
George
______________________________________
George Matyjewicz, Chief Executive Officer
Standard Reserve Corp. -- Atlanta, GA
Acct# 120018 Tel: 770-300-3070 Ext 2818
World Wide Currency for the World Wide Web
http://www.standardreserve.com
mailto:[EMAIL PROTECTED]
---
You are currently subscribed to e-gold-list as: archive@jab.org
To unsubscribe send a blank email to [EMAIL PROTECTED]
