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Speaker 1: Joining us now is general manager of Chesy's Personal Scott

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Speaker 1: nexton very good afternoon, Scott.

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Speaker 2: Hi, guys, good afternoon to you too.

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Speaker 3: How does this new debit card work, this new master

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Speaker 3: card Chersi's collab work.

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Speaker 2: Yeah, so it's so as you said, it's it's a

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Speaker 2: master card, so you can use it like you do

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Speaker 2: any other MasterCard. So it's accepted all over the world.

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Speaker 2: What happens is, as you are spending, we are clocking

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Speaker 2: up in the background what one percent of that total

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Speaker 2: spend amount is, and then each week we will invest

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Speaker 2: that on your path.

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Speaker 3: So just to get this straight, so this is additional

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Speaker 3: money or is it a percentage of your money being

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Speaker 3: put into ch' Is this a rewards a one percent

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Speaker 3: rewards situation?

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Speaker 2: Great question, yet, so this is a reward, So this

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Speaker 2: is additional money. So if you spend one hundred dollars

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Speaker 2: at the grocery store, then we are going to give

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Speaker 2: you a dollar which we put in to an investment.

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Speaker 3: Wow, and so you would pick which particular investment you

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Speaker 3: were going to channel that money into as a customer.

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Speaker 2: Yeah, yeah, We're we are intending to be able to

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Speaker 2: offer lots of choice in terms of what people can

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Speaker 2: invest in. We're still in a sort of an early

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Speaker 2: access phase for this product, so we've got some early

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Speaker 2: beta users who are starting to accrue their invest back,

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Speaker 2: and over time, sort of the next month or two,

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Speaker 2: we're intending to be able to give people choice for

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Speaker 2: what they would like to invest in. I'm sure we

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Speaker 2: get lots of feedback of what people would like to

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Speaker 2: invest in, and we'll hopefully make more options available over time.

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Speaker 3: And of course FOMO is a huge part of the

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Speaker 3: financial system. So I understand that do you have a

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Speaker 3: waiting list of thirty thousand? Did I read that somewhere

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Speaker 3: that there's a huge waiting list to get one of

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Speaker 3: these cards? Is that correct?

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Speaker 2: Correct? Yep, it's actually about thirty two thousand.

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Speaker 3: Now, okay, all right, right, someone on that.

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Speaker 2: Started talking about us.

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Speaker 3: So, just just in the widest Cheersys things, how did

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Speaker 3: Cheersys go through the recent downturn. I'm not talking about

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Speaker 3: the actual stocks that you can investment on Cheers's, but

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Speaker 3: as a company, as a fintech company, how do you

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Speaker 3: go through the ups and downs yourself?

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Speaker 2: Yeah, I guess we're like any company. We're always reacting

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Speaker 2: to the external environment. Actually, we've had a great few

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Speaker 2: years platforms growing really strongly. So we've put on over

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Speaker 2: one hundred and fifty thousand cutomers in the last twelve

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Speaker 2: months alone, and last quarter we traded so three point

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Speaker 2: three billion. So yes, acknowledge it's been a tough time

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Speaker 2: out there in the Broad and Zealand economy. But actually

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Speaker 2: we've seen quite a lot of success and that sort

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Speaker 2: of you know, as we've seen the customer base continue

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Speaker 2: to grow and you know, people making you know, wanting

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Speaker 2: to do more investing with us.

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Speaker 1: There's been a bit of criticism for international platforms that

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Speaker 1: are similar robin Hood, and there's been a couple of others

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Speaker 1: about the gamification of the shares market. Is that thought

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Speaker 1: about within Shares's is there? You know, you're pretty front

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Speaker 1: loaded with information for people to digest when they get

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Speaker 1: into it. Because it's great that you've taken down the hurdles,

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Speaker 1: but that other side of the equation, trying to get

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Speaker 1: your users knowledgeable and educated about the financial markets.

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Speaker 3: Is that a big part of it.

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Speaker 2: Absolutely. I mean, I think I've been here sort of

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Speaker 2: three and a half years, so you know, I can't

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Speaker 2: take a huge amount of credit for all this, but

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Speaker 2: the team when they started up Shares, he's back eight

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Speaker 2: years ago. You know, put a lot of thought and

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Speaker 2: effort into education and the content around that, and I

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Speaker 2: think that's really borne out by the behavior we see

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Speaker 2: on the platform with people making you know, good regular

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Speaker 2: taking a long term view of their investing, doing their research,

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Speaker 2: and you know, we've got a significant amount of educational

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Speaker 2: content that we offer to investors. So we've never really

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Speaker 2: thought about it as game gamifying. Initially, we've thought about

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Speaker 2: it as access. You know, people just felt sort of

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Speaker 2: priced out, jargoned out of the market, very hard to access,

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Speaker 2: and so you know, we've been able to remove many

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Speaker 2: of those barriers and then alongside that educational content I

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Speaker 2: think has been really hopeful for people.

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Speaker 3: So you speak, you talk about access there. So the

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Speaker 3: people that use Cheers's and there's I understand what over

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Speaker 3: eight hundred and fifty thousand users of Ers's eight hundred

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Speaker 3: and eighty, eight hundred and eighty people bound that thirty thousand,

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Speaker 3: more than eight fifties. So I'm not going to sell

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Speaker 3: you short there, But do you think they were people

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Speaker 3: that would have got into Shares in a traditional way

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Speaker 3: or do you think that that's opened up you know,

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Speaker 3: generally speaking, people that would never have got to shares.

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Speaker 2: Look, I think it's both. But initially when we started,

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Speaker 2: I think, you know, our founders will talk about the

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Speaker 2: fact that they went to you know, they went around

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Speaker 2: the country talking to people, and they would go into

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Speaker 2: rooms and ask people to put up their hand if

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Speaker 2: they consider themselves investors, and hardly anyone will put their

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Speaker 2: hand up. Now when they speak at conferences and things

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Speaker 2: that ask the same question, and most of the room

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Speaker 2: will put their hand up. So definitely it has opened

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Speaker 2: up investing to a whole new generation of people. But equally,

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Speaker 2: as our platform has grown, as we've added more products

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Speaker 2: and services and features, you know, we're definitely seeing more

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Speaker 2: people switching their their portfolios into Chairsy's so who were

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Speaker 2: already investing, but now we'd like to do that through us.

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Speaker 2: So it's definitely a mix of both of those groups.

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Speaker 3: I think we're talking to Scott Nixon, general manager Chersi's personal.

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Speaker 3: Will there ever be a situation where we get a

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Speaker 3: Chaersy's inception moment with Cheersy's going public and chars He's

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Speaker 3: being on Cheers's.

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Speaker 2: A's that's probably a questions, but above my pay grades careful.

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Speaker 2: I'll leave those kinds of ones for our executive officers

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Speaker 2: to front, all right. I love the inception reference though.

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Speaker 1: Yeah, very good. And just finally, if people want to

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Speaker 1: get on the waiting list for this new MasterCard product,

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Speaker 1: how do they do that?

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Speaker 2: Yep, they can go to our website ches A, dot co,

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Speaker 2: dot nzed. You can see spend there and there's there's

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Speaker 2: you can check your email address and join the wait list.

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Speaker 2: And we've got the team here working pretty hard. Try

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Speaker 2: and get through that weight list as quickly as we can.

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Speaker 1: If you've got a rolling ticker, what's it on? You said?

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Speaker 1: Thirty two thousand? Can you see if it's gone up

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Speaker 1: another another five hundred?

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Speaker 2: Do you know? If you give me, can you do

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Speaker 2: three seconds of radio filler?

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Speaker 3: And I will add yeah, ready to fillers. Basically Tyler's

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Speaker 3: full time job.

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Speaker 1: Go for it absolutely. Just while you're finding those numbers,

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Speaker 1: there's plenty of tecks coming through. Actually, we've got a

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Speaker 1: couple more questions for you just before we let you go, Scott,

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Speaker 1: but you just yelling my year. As soon as you've

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Speaker 1: found that updated number thirty three.

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Speaker 2: Thousand and thirty seven, yes, I can give you four

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Speaker 2: there you go.

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Speaker 1: It's good, all right, we went up a thousands, great fellow, Tyler, Yeah,

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Speaker 1: thank you.

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Speaker 3: I could hardly notice.

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Speaker 1: It was terrible on my part, but see us. Yeah,

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Speaker 1: seemless but great to chat to you mate, and congratulations

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Speaker 1: on the product that sounds like it's going to go well.

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Speaker 2: Thank you very much, appreciate your time.

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Speaker 1: That is Scott next and general manager of Shearsy's Personal

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