Never conceded i do have PAY but to make a profit on not to hold. Was just reviewing the information they have been telling people and am constantly seeing issues with what they are telling.
One statement is that they do not want to allow access to all members right away due to a Regulation in Singapore Banks that doesn't allow them to increase transactions. Which doesn't make sense as there is no regulation as long as they are licensed which they state they are.
Then the rewards are far too high to be possible. In the United States they can receive up to 1.5% on the interchange fee, but most countries they are starting in are capped at .3%, while they state .6%. After some talk with TenX and reading what they wrote they don't really know how they are doing .6%. The TenX members on Slack state that all fees in the transaction end up being theirs, but then their image shows otherwise. They state the fee that goes to the acquiring bank is theirs, the issuing bank fee is theirs, and the fee that is paid to Visa is theirs, when in reality the only fee they will receive is the Card issuing bank fee which is called the interchange fee. In the end there was a response that states the .6% is used as an example to help people understand the money that TenX receives, and the final number will not be decided upon until the first disbursement is going to be sent. So really, it seems we can expect more around .3% at the most, or maybe they forgot a 0 and its supposed to be .06%.