Dec 23, 2006

Preparing for our biggest and most exciting year ever at Welcome

We’re a high growth company, so next year is always going to be our biggest year ever. But there is “biggest” and there is “BIGGEST”. We can be in high growth mode without actually getting the most out of our potential. That to me is failure. Wasted potential is bad. Keeps me awake at night.

Over the last 3 years, we have sold software licenses for a total of 19.2 million cards in force and 248,000 POS terminals. Very good growth, but still tiny when you look at the global potential for our software.


We are still holding ourselves back. We still haven’t cracked some of the world’s largest markets yet, and we are still very far from our objective of providing a payment platform that is irresistible to all financial institutions everywhere. In many cases, we have simply stumbled onto success. Imagine what our growth would look like if we could replicate successful deployments in a much more industrial manner.

We’ve just finished a week of meetings at our headquarters in Aix-en-Provence, with lots of discussions on strategy and plans for 2007. As we saw in those sessions, making our products absolutely irresistible has been a constant theme over the past 10 years. We are still not there. Many banks find our products very attractive, and we do have lots of examples of banks getting lots of value out of our software. But that’s not nearly the same as irresistible.

Over the next few weeks, we will be focusing heavily on becoming IRRESISTIBLE, as we prepare for our BIGGEST and most exciting year ever.

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