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Time to drop that £5k back in btc and give mode another £100 in fees this weekend
Plus mode and the likes apps means less banking plastic cards, saving the environment which the new generation is very keen to contribute to.
Traderdan, your debit card/your card details can be stolen, copied etc, even your email and password hacked. But no one can copy your fingerprint or Face ID for the app. So wouldn’t you rather use Mode app with your Face ID or fingerprint? Plus teenagers, young people and students almost all prefer to use digital app, not to mention the additional perks eg bitcoin, cash back, personalised shopping etc…. The potential for mode is huge if they get it right and with Rita being ex Alipay’s Europe CEO, I have no doubt they will.
Hi Crocqman, I wouldn’t say it is any secret that both you and a new customer get £20 (was £10 till today) and I can assure you I am more interested in the user number growth as my exposure to this stock is far higher than a few lots of £20, which if I’m honest I have had a surprisingly small amount. Rest assured, going forward I’ll be sure to make clear we both get £10/£20, assumed it’s was very common knowledge given the way Mode market this...
Have a good weekend too!
Very altrustic of you supporting user growth by sharing your sign-up link, Ben ;-)
Now, call me a cynic, but I note that on each of the 6 occasions you have posted this now, you haven't mentioned that you will also gret a £20 reward for each new sign-up.
It would be interesting to know how much you have made from your fellow investors, and friends and family this way.
All's fair, right?
Good weekend all
Traderdan
Because if you do transact through the mode app then you will receive either BTC back or cash back. Card payments are very expensive for the merchant and therefore through open banking Mode will cut these fees out and the customer will be rewarded. It’s a win/win as it creates loyalty from the customer to the merchant and a more personalised service - data is the new oil and all that.
They are working on lots of different functionality for the app as well hence it’s called a “super app” ie. lending services, fx services, even investment services etc.
It’s worked in China so hoping we get first mover advantage. Fin tech is moving so fast these days and in the future no one will own a card rather like no one uses cheques anymore (under the age of 70).
Someone has to be the first in the Uk to do this and if we make a success of it then the sky is the limit.
Time will tell
Mode have increased their sign up bonus to £20 - if you haven’t yet downloaded their app and bought bitcoin through it, it is very easy and will demonstrate to you as an investor how fantastic the open banking interface is. Not to mention you’re getting bitcoin during this dip - here is a code to get your £20 free bitcoin if you’ve not already signed up for mode https://modeapp.com/referral/BEN523558
I believe that MODE will be linked to your bank account. So, effectively, online purchases become like a contactless payment of sorts. Swift and easy.
Contactless payments have made chip and pin largely redundant (for payments pre £45, or whatever the cut off is these days), much like MODE aims to make the keying in of card number, exp date, name on card, billing address, security code etc redundant
MODE instore contactless terminal/payments (one day) may enable a contactless payment of sorts for any valued transaction as you cant steal someones MODE app, like you can a contactless card (cybers hacks aside...)
The thing i dont fully get yet is why would you pay for something from the mode app when you can just pay with your debit card? Dont get me wrong i have a holding but i do question if this technology is too soon. Makes me a bit nervous
Mode are presenting to over 1000 e-commerce merchants at a European Summit today.
See tweet from Janis Legler.
Nice!!!!
Bitcoin has had its nosebleed. Shouldn’t have brought down mode with it anyway as transactions and revenues will have increased. Payment app launch around the corner, ridiculous potential if any half recognisable merchants onboard. Mode just need to deliver what has been promised and all the soundings in recent presentation/interviews and tweets suggest we are on course.
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=MODE.L
Not massively reliable of course. AIM is such a news driven market that charts are not very accurate....
This will re-rate on news or at least a leak of news.
How are we looking on the charts?
Binance CEO was on CNBC today and he said yesterday their company handled 3.5Billion Dollars worth of business. Imagine how much fees they earned just in a day. Although Binance is a very big company compared to MODE, but I am sure Mode also had a very high volume of transactions yesterday and today.
Well mode have had £100 off me in fees in a day, bought btc at 36k just sold at 41500. Should have held out because it’s going back mid -late 40k’s.
Now imagine them kind of fees on thousands of transactions and as we know this is just a little money spinner on the side before the real buisness fires up.
It’s odd because we have supposedly been merchant acquiring in the UK for Alipay and Wechat yet we barely generate any revenue from it. It’s a legacy part of the business under the previous brand!
The Bitcoin wallet and super app I get but don’t fully understand the dynamics and commercial side of the Alipay/We Chat relationship.
Maybe it will all come together within the super app!
My understanding- could be wrong that Alipay and wechat as a partner also get a % of the transaction fee therefore it’s in there interest for MODE to succeed and use there platforms to increase mode exposure - to there 800mil merchants.
Think about that...
If you read the IPO prospectus it states at the time of writing.
70 merchants had signed contracts.
Flowergarden, they are launching in Europe and later in the US. But the U.K. first. We should get updates about the U.K. merchants soonish incl 100 ftse companies and big online one, it is rumoured.
To add to my previous post, Mode will also facilitate U.K./Europe merchants target the Chinese market.
Having the ex CEO of Alipay Europe says all for me. Mode isn’t building from scratch, Rita has all those merchants contacts of Alipay Europe. Listen to her and see how confident she is. Just 1% of Alipay’s revenues is £1 billion for Mode, not to mention bitcoin where it goes up or down, as Mode makes its money from transactions and the more volatility in btc as we are seeing the last few days and more to come, the more revenues for Mode.
@ KinghomerJ, yup. Just got to sit it out. I hope people own thus stock in their ISA..
Crazy potential. I want to see them launch in another market this year.
Frustrating yes for people wanting to make a quick buck.
Anyone with solid research would understand the potential here is limitless.
MODE Ecosystem for Super App has the potential to hit Billions in Market Cap.
I see people stating £1.50/2.00 - Id expect this very short term tbh but i must also add that this is ridiculous vs the potential.
Why settle for £2 when you can settle for £10/20/30
£10.00ps with current shares in issue is roughly a 1 Billion Market Cap.
Achieving only 1% of Alipays Revenue from 2020 would be £850,000,000 in Revenue per annum.
Forget the Bitcoin
Well frustratingly we are correlated to the downside of BTC but not much correlation to any upside.....
Now where is that super app to diversify this business....?
Picked up £5k of Btc at $36500, let’s see her bounce back to late 40’s by the weekend...
The reasoning for this is that most people cant be bothered to actually do any research and have no idea about the company,
They think Mode is a Bitcoin play - end of story.
For the 10th Time Bitcoin Wallet is about 0.05% of the Product - which hasnt even been launched yet.
Alipay 2020 June $17 Trillion in Transactions for a year 0.05% Fee is £85 Billion.
Do the maths on the potential here.
Imagine they sign Deliveroo, JD Sports, Weatherspoons, Thats three companies which are worth billions. Then add the other 100's if not 1000's if not 10,000's merchants that will get on board.
Again if you think its a bitcoin play then you are a Fool