Moving into the digital age has offered opportunities for product change. Speed, economy and efficiency are often the more recognizable beneficiaries of new digital products. But, in many instances, it is the consumer product that gets the benefit of digital at the expense of the bigger picture. How can a company benefit from a social digital paradigm shift; a shift where everything has always been digital? Finding that benefit is where profits will be coming from, and soon.
Freestar Technology Corporation, a financial transactions and technology company, offers payment processing, processing hardware, and consulting services to vendors across Northern Europe. Where other financial transaction companies may find the vast majority of revenue coming from their traditional transactions division, Freestar Technology finds its revenue sources from a well-balanced divisional structure. Its transactions division may be the most recognizable, in a traditional transactions world, but when its new-world business model is added to the equation, the company’s hardware and consulting units prove to provide a balance of revenue to enable organic growth.
For the most part, much of the company’s direction within this marketplace can be attributed to its chosen home base location. Northern Europe is fairly receptive to electronic transactions in the many forms that they are now being made. Making payments through handheld units (mobile phones, in-store handheld units, debit cards, cross-border compatibility) is becoming commonplace in this region and across Europe. As the company’s hardware is made to suit this trend, and generate monthly one time fees in addition to other individual transaction fees, a consistent source of revenue is generated.
The consulting services division also fits nicely into this unified model, as it helps businesses to understand how this new form of cross-border transaction system works. If a massive generalization were to be made, the company’s financial transactions system is a form of bringing consumer payment systems into the digital and mobile ages.
Digital personal finance is changing to meet a new breed of consumer. The new phrase to be heard of late is “born digital.” This term means those people who were born knowing nothing else but the digital age. They expect that everything they do is done digitally. This reality requires all consumer-based functions to morph toward these consumers’ expectations. Although many consumer interactions have started to make the jump, many have yet to find their proper place in a digital age. Freestar Technology is making its digital consumer move in the transactions marketplace and is well on its way to banking its bytes along the way.
Let us hear your thoughts below: