BC TRADING
Saved by @Alex1Powell

$FISV investor day this week provided some new insights into the composition of — and more importantly, the growth engines within — each of its 3 operating segments

Will attempt to deep dives on each to build on some of my musings from earlier in the year on this topic 🤗 https://t.co/Amlnje1Qiq

 Will also try to bridge to an earlier thread laying out the $FISV growth algorithm and the operational/financial levers that support its medium-term outlook of 15-20% FCF/share growth

Here we focus on the top line, most notably the impressive acceleration across all 3 segments https://t.co/8HzMhEC5Bj
Let’s start with Merchant:

1) This segment, which ~40% of $FISV revenue today, is the #1 merchant acquirer globally processing $3T+ annually for 6M merchants worldwide

2/3 of revenue is from SMBs, ~20% from mid-to-enterprise merchants, remaining ~15% is wholesale processing
2) 🇺🇸 is 3/4 of the $FISV Merchant segment and the scale of this business is unmatched: it processes 40% of all in-person purchases in the US, covers 80% of all US zip codes and accounts for 10% of US GDP. This book of business is the most balanced in the industry https://t.co/Qlkk7lz3jQ
3) Internationally, $FISV Merchant has strong position in EMEA (top 3 through various JVs and alliances) and several high growth countries, among others: India 🇮🇳 (top 3 with ~15% share), Argentina 🇦🇷 (~50% market share today), Brazil 🇧🇷 (routing ~30% of all electronic payments)
4) Within $FISV Merchant, there are 2 growth engines which together account for an estimated ~40% of the segment’s revenue (some $2B+ growing at 20%+ annually)

- Clover, inclusive of the SMB offering and ISV platform

- Carat, the new branding for its e-/omni-commerce solution
5) Clover is the single most exciting thing going on at $FISV

From 6 engineers and a patent in 2012 to $133B of GPV today, Clover has now surpassed $SQ growing 2x+ as fast

Other SMB platforms like $LSPD/Upserve (< $40B combined), Toast, etc. are just a fraction the size https://t.co/EJqhKl6Kaz
6) Clover was growing 40%+ pre-COVID and 30%+ in Q3, adding 96k new merchants during the pandemic 🚀 but still only 1/4 of FISV’s SMB merchant base

Importantly, ~90% of new Clover merchants are net new $FISV. This explosive growth is not self-cannibalization as previously feared https://t.co/QOHo1dTOST
7) Here’s the updated head-to-head comparison between $SQ (which was decelerating even before COVID and skews micro-sellers) vs $FISV Clover (scaling fast and growing rapidly despite COVID)

It’s a 2🐴 race, and while one is getting tired, the other is pulling ahead for the win🏅 https://t.co/UPy1OJma6v
8) Oh yeah... and that strong growth is before any of “bank merchant” synergies from offering Clover to its 4,000 small/community bank customers where $FISV is core account processor

Since FDC deal closed, 200+ banks have signed up to resell Clover to SMBs, 500+ more in pipeline
9) Why is Clover so exciting for $FISV?

Remember, Clover is an open platform, not just a cloud POS integrated with payment processing

It has both FISV-delivered and 3rd party apps that help SMB merchants manage and grow their business, with attach rate for software near 50%
10) Even more powerful is how $FISV has integrated ISV capabilities (CardPointe/CoPilot) into Clover to grow further up market

Now 3rd party ISVs can build specialized vertical solutions with integrated payments on top of the Clover form factor, and resell it to their customers
11) The ISV/Integrated market is growing 15-20% annually, the leaders are $GPN and $FIS/WorldPay

$FISV/FDC is a relative newcomer, with 1,000 ISV partners and growing at ISV revenue growing 50%+ despite COVID

Clover target verticals: Spa/Salons, B2B, Field Services, Vet/Health
12) The second growth engine within $FISV merchant is Carat, the new brand for the global e-comm/omni-commerce platform

Today, e-commerce accounts for $1B+ of FISV/FDC revenue, doubling since FDC’s investor day in 2016 (15-20% annual growth, in line with global e-comm)
13) Carat is a culmination of 3 yrs of investment by $FISV, the re-platforming of FDC’s multi-currency/multi-country OmniPay technology

While the Carat name is new, its market presence is not. FISV is already used by a number of leading brands for omni-channel commerce
14) It should already be widely known today that $FISV is the underlying processor behind Stripe, Braintree and PayPal, and therefore benefits from their success. This indirect, wholesale e-comm processing business is some $250M of annualized revenue today https://t.co/ei2To0u4CF
15) What’s probably less well appreciated is the size of $FISV direct e-comm business. Today this is ~$750M of revenue (about the size of Adyen)

In Q3, FISV e-comm transactions grew 25%, in line with the market

Was FDC/FISV late to the game in e-comm? Yes

Is the game over? No
16) I know there’s a narrative that Adyen and Stripe are going to take over the world, and legacy players like $FISV are just share donors

This threat is serious/real as more of commerce is shifting from offline to online. It’s 85/15 today and is only going in one direction ...
17) ... but let’s put all this in context

Stripe is ~100% online merchants and sits on top of $FISV for processing

Adyen is ~85% online and has offline ambitions. It’s a much larger threat given full stack acquiring, global footprint and focus on enterprise merchants
18) Remember, Adyen is ~$800M of revenue, of which 2/3 is Europe and 95%+ is large multinational merchants wanting a single integration for global acquiring

It’s offline capabilities center around omni-channel commerce but are still nascent (< $50B annual GPV worldwide)
19) $FISV is not ceding this market to Adyen without a fight

It’s new Carat Commerce Hub is an orchestration layer for multi-party global acquiring through a single point of integration, enabling FISV to sit “on top” to integrate a merchant’s multiple acquiring relationships
20) Will Carat be enough to mitigate the Adyen threat? We’ll have to see 🤗

But let’s add some more perspective: Enterprise is < $1B of $FISV Merchant revenue, add in Mid-Market where Adyen is trying to gain some presence and we’re at maybe ~20% exposure to the Adyen threat ...
21) ... but remember, in its biggest market 🇺🇸, categories such as Groceries, Pharmacies, Gas are 1/3 of $FISV Merchant GPV and probably account for most of the non-SMB revenue that would be exposed to Adyen if it made significant inroads into the US (< 20% of Adyen today) ...
22) ... and in these categories, scale/pricing matter more than slick API integrations or multi-country acquiring. All of these merchants have razor thin margins and heavily utilize the PIN debit routing/on-us benefits of $FISV that Adyen just doesn’t have

Scale matters here https://t.co/dUMVJV9LkN
23) Why isn’t Adyen a threat to the SMB merchant franchise?

One word: Distribution. Adyen sells its solution alone

$FISV leverages SMB acquisition partners across bank and non-bank channels, ISOs, ISVs, and other local partners, in addition to its own direct sales force ...
24) ... and this unparalleled distribution is the same reason $FISV was able to scale Clover so rapidly to over take $SQ despite being a second mover following a copycat strategy.

In SMB land, “feet on the street” beats “innovation” all day long 🤗

Distribution matters here https://t.co/8PKUBpmdSw
25) Tying this all back to growth

Not too long ago, $FISV Merchant was a low-single digit grower

It grew 10% in 2019, so a 9-12% medium term outlook certainly looks achievable — particularly if it’s 2 growth engines (Clover + Carat) are ~40% of segment revenue and growing 20%+

More from Trading

Trader knight
Trader knight
@Traderknight007
A thread on SCALING IN - OUT METHOD -


What is scaling in - out?

1. Scaling in is adding on to the positions when they move in our favor (Pyramiding).

2. Scaling - out is exiting the portion of the position when the trade moves in our favor.

I have explained about pyramiding in previous tweets.

// Why use scaling out instead of exiting all position at once ?

When you are using ALL - out method where you exit positions at once, mostly you use wider Trail SL as you want to capture big moves and exit all when trail sl hits.

The problem with this method is that either you make too big or many times your medium size winners turns out to become Scratch trades.

So, when we use the scaling out method, we are trying to capture most of our medium size trades , so that they do not turn into scratch trades.

// How to use scaling out method -

Say we have to got a signal to enter in a trade, and we have to buy 1200 qty according to our Position sizing.

So, we have to divide this 1200 qty into parts, how much? It depends on you.

We can divide into 3 parts, each part 400 qty.
TRADING
il Capo Of Ethereum
il Capo Of Ethereum
@CryptoCapo_
As a former professional poker player, I'm very clear about the importance of psychology in investing/trading.

You can have a very solid strategy, but if the mental aspect fails, everything fails, no matter how good you are.

Thread 👇

In this thread I will briefly describe the most important aspects of trading psychology, and give some simple tips to try to improve them.

It's good to always be aware of these aspects, to be able to detect them and act in time.

1) FEAR

This is one of the most important. It can make you get out of a position at the wrong time.

One of the main reasons you can have fear is because you are putting more at risk than you are willing to lose.

Tip: reduce the size of your position until you are comfortable.

2) GREED

Greed can be even worse than fear. It leads you to be overpositioned and to destroy your average entry.

Tip: learn to conform to what you have. Practice gratitude for everything that comes your way. Remember that the most important thing is to stay in the game.

3) TILT

This is well known in poker. There are many reasons why tilt can appear (downswings, injustice, mistakes...)

Tilt takes you away from your perfect strategy. From your A game.

After a losing streak you may think that the market is being unfair to you.
TRADING
Advertisement
Kirtan A Shah
Kirtan A Shah
@KirtanShahCFP
Learn about the STEEL SECTOR in this thread

The demand for steel is generally only 1.2 times the GDP & there is no significant growth in our GDP but still the sector has rallied relentlessly, lets try & understand

Do ‘re-tweet’ & help us educate more investors (1/22)
#Investing

The metal sector is broadly divided into 2,
-Ferrous is a category of metal that has Iron in it, Steel as an example
-Non-Ferrous is a metal, which does not have Iron content, Aluminum, copper, lead, nickel, Zinc etc.
This thread focuses on Ferrous & hence Steel (2/22)

To start, lets understand with how steel is made (its important).
Iron ore is mined, it is then first converted to Iron & Iron is then converted to Steel. There are 3 processes of making steel
-Blast Furnace
-Scrap Metal
-DRIP/Sponge
We will discuss all three (3/22)
ALL , SECTORLEARNINGS , STEELSECTOR
Trader Abhishek
Trader Abhishek
@KillerTrader_
Introduction to imbalance charts (orderflow trading):

A 🧵

(1/n)

Orderflow charts essentially show the real time buying and selling happening in the markets.

In below chart, you can see how market sell orders are shown to the bid side and market buy orders are shown to the ask side.

(2/n)


Using this, one can identify big buying and selling happening at various prices.

Imbalance charts takes this one step forward. How so? Read on to find out.

(3/n)

Imbalance charts shows buying and selling imbalances at various price points. How does it matter?

Imbalance here implies to what extent is buying more than selling and vice versa.

(4/n)

Why is that important? As a trader, if we know that buying at a particular level is x times more than selling or vice versa, it would help us understand the strength of supply or demand coming into the market.

(5/n)
ALL , TRADING
Trader knight
Trader knight
@Traderknight007
“In search of the holy grail”

A thread-


Holy grail- A strategy Which can make money all the time.

After going through two phases of a traders journey, the initial success phase, and Only why do i get loss phase, Traders enter the third phase -

THE SEARCH FOR THE HOLY GRAIL PHASE.

This phase has no limits, It can end in 1 month and it may not end till lifetime.

What exactly is this phase?

When a trader covers all the basics, they know how to lower their losses, they know the power of risk management.

And few of them may even develop their edges and systems over time.

But after some time, they feel that they are doing something wrong and there is more to trading than what they know.


THEN COMES THE HOLY GRAIL PART-

Few of them start to Read more books about trading,finding articles about “How to win 100% of the time” and listening to Youtube videos of few big traders who make big in trading.
ALL , TRADING

You May Also Like

Learning @ Prakash
Learning @ Prakash
@Prakashplutus
My simple Approach towards Breakout trading :

1. Scan stocks on the basis of FTDB Scanner.

2. Buy stocks with EMA-9> EMA-21> EMA-63 > EMA 200 & Volume 200% up

3. maximum SL of 1.25X ( ATR )

4. I do breakout trading only in Nifty -500 stocks

#StockMarket
#trading
#Nifty
SCREENERS
\U0001f1fa\U0001f1f8I Support Our Military & Law Enforcement\U0001f1fa\U0001f1f8
🇺🇸I Support Our Milita...
@TheWiseOwl_AZ
1. There are more people added on the list of arrests and executions of famous people but no further intel is available at this time.

ARRESTS and EXECUTIONS OF FAMOUS PEOPLE 2020 UPDATED
Explanation of the latest military tribunal arrests and executions of famous people in 2020.

2. The tribunals are arresting these people in plain clothes. We saw the Obama’s arrest, although we didn’t know it was an arrest at the time. The arrest was done nonchalantly so as to not get noticed by the public.
All arrests of these famous people were done this way.

3. If the person is convicted of child sex trafficking, crimes against humanity or treason, they will be executed.
If the person arrested has evidence on someone else to help their prosecution, or is willing to help Trump, & they want to cooperate, they may be allowed to do so.

4. A sentence of execution down to life in prison may be accepted if their evidence is worth anything.
When a plea deal is done, the defendant must present evidence they have to make their sentence lighter. This information is given to the prosecution, defense, and to the judge.

5. If evidence is accepted, they are presented the plea deal. They will have to make a guilty plea to the crime with a video confession & written statement. That is how all plea deals work.

All famous people arrested were either treasonous or involved in satanic worship rituals.
CRIME
Advertisement
Anshul Pandey
Anshul Pandey
@Anshulspiritual
THE NOTICEABLE SIGNS OBSERVED ON IMPENDING DEATH(मृत्यु के संकेत या चिन्ह)

As per Skanda Puran, Kartikeya had narrated to Muni Agastya about the signs of the coming death. This is as per this ancient scripture.


If one experiences the air coming out of right nostril continuously then it is observed that the person dies within three years. If the breathing is continuous towards upper side from both the nostrils, then the person can die within two three days.

If the breathing is through the mouth instead of the nostrils then the person may live only for two days. The person should take into coignance these signs of the occurance of any sudden death.

As per astrology when the Surya is in the 7th house and Chandrama is in its own house and the breathing is only through the right nostril then the danger exists. If you see a yellow black coloured figure who becomes invisible immediately then the life span is limited to 2 years.

If any person sneezes, passes urine, stool and semen all together he has only a year more to live. If a person sees blue coloured snakes flying in the sky then he has only six more months to live. If a person sees any thing opposite to its real self like colours
RELIGION
Noah Smith
Noah Smith
@Noahpinion
1/Politics thread time.

To me, the most important aspect of the 2018 midterms wasn't even about partisan control, but about democracy and voting rights. That's the real battle.

2/The good news: It's now an issue that everyone's talking about, and that everyone cares about.

3/More good news: Florida's proposition to give felons voting rights won. But it didn't just win - it won with substantial support from Republican voters.

That suggests there is still SOME grassroots support for democracy that transcends

4/Yet more good news: Michigan made it easier to vote. Again, by plebiscite, showing broad support for voting rights as an

5/OK, now the bad news.

We seem to have accepted electoral dysfunction in Florida as a permanent thing. The 2000 election has never really
POLITICS
\uc2e0\ub150\uc758\uc0ac\ub098\uc774
신념의사나이...
@Belposto_korea
The RV and the Redemption Funds.

ALL Exchanged Currencies as well as all Zim Redemption funds will be placed in the accounts they set up in the Quantum Financial System./1

Absolutely none of these funds will be placed in a Bank at the redemption appointment. Bank computers cannot be programmed to transfer Digital Gold Certificates./2

The QFS can and will transplant funds into a bank account as has been explained earlier,/3

so a person can transfer funds to their own bank account but the desirability will become less and less as the banks go into receivership and their customer’s deposits are confiscated to avoid the Bank’s demise./4

Which bank can compete with the QFS when the QFS is free, secure, private, and stable? One of the major problems in the transition will be the use of Debit Cards for merchant purchases. Will VISA or Mastercard be available?/5
FINANCE


Category Partner: Enkryptopedia