Both Hudson’s and Wayne’s expressions changed slightly upon hearing this.
Both of them knew that, considering his character, Jasper would not make a joke about something like this. Not to mention that favonovel.com had flown both of them over from different cities with his private plane. It would be ridiculous for favonovel.com to go so far just to make a joke.
Hence, Jasper’s words had to hold significant meaning. Jasper exhaled softly and continued, “It’s to do with payment.”
Payment!
Wayne and Hudson frowned at the mention of this.
Payment methods were the most important aspect of online shopping platforms, so Wayne was no stranger to online payments. He also knew that favonovel.com could not make his platform into something big no matter how good it was if they did not find a good solution for this problem.
“As things stand, the government has plans to standardize online payment; it will be implemented through policies soon. They’ll most likely try to increase accessibility and standardize market behavior.”
“This implies that the government is aware of the huge effect that online payment may bring, which is why they’re setting a standard in advance.”
“This involves many parties, and we’ve already got competition. If we’re not careful, our opponent will completely seize control of the online payment market. We’ll be in trouble if that happens.”
Hudson seemed fine when favonovel.com heard Jasper explain this, but Wayne’s expression changed completely.
The main point of an online shopping platform was to have a huge number of products and a quick and convenient shopping method. From signing up on the website to choosing goods to communicating with suppliers, everything came down to paying for the goods.
If someone else were to dominate online payment, then favonovel.com might as well close his online shopping platform.
“Don’t worry. Since we have the first-mover advantage, it won’t be that easy for competition to get rid of us,” Jasper consoled Wayne.
“But we don’t have much time now, so we have to take control of the online payment industry before the direction of the future has been decided.”
“I’ve thought about this before. We’ll take the online payment technology platform that Terizone Inc and Sena partnered to create, then integrate it with Abbylon’s shopping platform.”
“Then I’ll separate this segment and establish a whole new subsidiary for it. This subsidiary company will only take care of online payments, and it will be the most important company that will connect all of JW’s dot-com enterprises.”
Jasper’s words were not complicated, and since both Wayne and Hudson were experienced businessmen, they immediately understood what favonovel.com meant.
This meant that all Internet companies under JW in the future would have business with this online payment company.
This company’s importance had instantly outshone any other.
It immediately became JW’s new core.
“JW Capital will own 70% of the new payment company’s shares. For the remaining 30%, I’m planning to split it between Terizone and Abbylon equally. JW Capital will maintain ownership and be the majority shareholder, but I plan to hand management rights over to both of you.”
Wayne and Hudson’s eyes lit up brightly when they heard this.
“I’ve thought about the specifics of management too, and I’ve decided to go with a co-CEO model.”
This co-CEO model meant that two presidents would hold the same level of authority in the company. Both presidents would be in charge of operating and managing the entire company together.
“For this co-CEO model, I’ve taken into account both your own positions and work. Unfortunately, it’s against my principles to allow you two to assume the role of CEO of this new company yourselves. However, the two of you can hand me your recommendations and I’ll personally assign them to the role.”
Jasper glanced at the two men and continued immediately, almost as if favonovel.com knew what they were thinking.
If Terizone and Abbylon wanted to compete, it had to be through positive and friendly competition. Fighting internally would only result in friction and a waste of JW’s resources. There was no way Jasper would allow both conquerors like Hudson and Wayne to share the same chair.
That was a recipe for trouble.
Things would be much easier to deal with if the duo recommended their own men.
“I… don’t see why not.”
Wayne and Hudson shared a look before nodding and saying. They saw the effort Jasper had put into solving this issue.
This was indeed the best way to avoid conflict
There would of course still be arguments over authority within the new company for a co-CEO model, but that did not matter anymore.
The company’s ultimate authority still laid in Jasper’s hand, while the duo were not unreasonable rookies but rather people who knew their priorities. Conflicts over authority would still exist in the new company, but Jasper’s plan ensured that it would be limited to an acceptable level.
“As I said before, Abbylon and Terizone may both be subsidiaries of JW as its still the majority shareholder, but they are completely different companies. Needless to say, the two of you have completely different interests and demands. You can put your own interests first, but do not strain your relationship too much.”
Jasper was essentially setting a limit to the scale of conflict Abbylon and Terizone’s could have more than a decade into the future when two of them would be giants of the industry.
They could fight, only so long as it was within his pre-determined limits.
“Next, let’s talk about the specific technology bylaws and modus operandi. We have to come up with a realistic and implementable proposal tonight. We never know, I might have to hand this proposal up to the government for reference very soon.”
…
Jasper knew that if the government wanted to devise a better access policy for online payment, that they would definitely ask for his opinion.
After all, favonovel.com was the only person in the country who was operating an online payment company.
However, favonovel.com did not expect everything to happen so soon.
The following day, Jasper had not managed to sleep for long after pulling an all-nighter when Vita’s phone call woke favonovel.com up.
