I estimate that newsagents currently ‘owe’ somewhere between $15 million and $20 million to Technology Business International for the equipment used in-store for the Bill Express Dialtime bill payment / phone recharge service.
Most newsagents entered into their lease agreements for this equipment expecting that they would never have to pay the lease costs thanks to rebates offered by the company.
The removal of the rebates by the company in February left newsagents out of pocket for the fees for the first time. hence the interest in the network wide ‘liability’.
I wonder how this all plays out when the future of the company is being considered. While Bill Express probably unlocked the total value of the lease early on, I would not be surprised if there was some liability from the company to the financier in the event of a mass newsagent revolt or some other issue around the monies being paid.
$15 million to $20 million is an amount newsagents cannot afford to lose. This is why I support Federal Court action to challenge the actions of the company and others which has left newsagents in this precarious position.