Come 2001, attention turned again to True North Holdings. In the years after the sell-out, we were the first to introduce a multiple application device (MAD) which is a point of sale device like a bank terminal that sells things cash advance places in fayetteville nc pre-paid airtime and electricity. It taught us that tech could move money and information on a distributed basis economically. When Sport For All founders approached True North Holdings looking to partner and convert their NGO into a franchise in 2004, we bought their front end and partnered for just over five years, using MAD tech and smart cards to form part of their business model.
However by 2008 we realised we didnt have the capacity to do too much as building MADs consumed enormous amounts of money - a terminal cost R5 000 and it was a bit too ahead of the curve. So in 2010 Sport For All bought back their shares and focus fell back on Cash Converters where its been ever since. How Richard Mukheibir and Cash Converters met.
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