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If there are instances of failures of our information technology system, the products and services we
provide could be delayed or interrupted, which could have an adverse effect on our business, results of
operation, cash flows and financial condition.

We are heavily dependent on our IT system, which may include third-party infrastructure. To
successfully operate our business, we must be able to protect our IT system from interruption, including
from events that may be beyond our control. Events that could cause system interruptions include, but are
not limited to, fire, natural disasters, unauthorized entry, power loss, telecommunications failure,
computer viruses, malicious codes, terrorist acts and war. Significant problems with our IT system, such
as telephone or IT system failure, disconnection of VSAT antennae or cyber security breaches, could halt
or delay our ability to service our customers, hinder our ability to conduct and expand our business and
require significant remediation costs. Any of these events could have an adverse effect on our reputation,
business, results of operations, cash flows and financial condition.

Our ability to provide reliable service largely depends on the efficient and uninterrupted operations of our
transaction processing platform, third-party transaction processors, telecommunications network systems,
and other service providers. Accordingly, any significant interruptions could severely harm our business
and reputation and result in a loss of revenues. Additionally, if any interruption is caused by us,
especially in those situations in which we serve as the primary transaction processor, such interruption
could result in the loss of the affected merchants and financial institutions, or damage our relationships
with them. While we periodically test and update, as necessary, our internal control systems, we are
exposed to operational risks arising from the potential inadequacy or failure of internal processes or
systems. Given our high volume of transactions, it is possible that errors may repeat or compound before
they are discovered and rectified. Although we have instituted policies on backup and change
management and obtained a certificate of approval for our information security system which was found
to conform to the requirements of the standard ISO 27001, and although all our data centres have been
certified compliant with the Payment Card Industry Data Security Standard, our systems and internal
control procedures that are designed to monitor our operations and overall compliance may not identify
every instance of non-compliance or every suspicious transaction. If internal control weaknesses are
identified, our actions may not be sufficient to fully correct such internal control weakness.

We cannot be certain that any measures we and our service providers have taken to prevent system
failures will be successful or that we will not experience service interruptions. We may also come under
additional regulatory scrutiny or be the target of enforcement actions, or suffer monetary losses or
adverse reputation effects. All of these may have an adverse effect on our business, results of operations,
cash flows and financial condition.

Our ability to adopt new technology to respond to new and enhanced products poses a challenge in
our business. The cost of implementing new technologies for our operations could be significant and
could adversely affect our business, results of operations, cash flows and financial condition.

The industries in which we operate are subject to rapid and significant technological changes, with the
constant introduction of new and enhanced products and services. As part of our business strategy, we
intend to leverage our technological capabilities across various business sectors to develop a payments
ecosystem for our customers. Our success will depend in part on our ability to respond to technological
advances and emerging standards and practices on a cost effective and timely basis. We cannot assure
you that we will be able to successfully make timely and cost-effective enhancements and additions to
the technology underpinning our operational platform, keep up with technological improvements in order
to meet our customers’ needs or that the technology developed by others will not render our services less
competitive or attractive. In addition, rapid and frequent technology and market demand changes can
often render existing technologies and equipment obsolete, requiring substantial new capital expenditures
or write-down of assets. Our failure to successfully adopt such technologies in a cost effective and a
timely manner could increase our costs and lead to us being less competitive in terms of our prices or
quality of services we provide. Further, implementation of new or upgraded technology may not be cost
effective, which may adversely affect our business, results of operations, cash flows and financial
condition.

Any delay or default in client payment could result in the reduction of our profits.

Our operations involve extending credit for extended periods of time to our customers and consequently,
we face the risk of the uncertainty regarding the receipt of these outstanding amounts. As a result of such
industry conditions, we have and will continue to have high levels of outstanding trade and unbilled

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