Significant dependence on its long-term relationship with card networks and card issuer financial institutions.
Significant dependence on its relationship with airport lounge operators.
Company’s operations are heavily dependent on the travel industry, in general, and on the air travel industry, in particular.
Reliance on a few clients for a significant part of its revenue.
Potential saturation of Indian markets and requirement of expansion in global markets.
Adverse order, monetary penalty, or proscription against card networks and card issuers.
The threat of airport lounge operators forward integrating and tying up directly with card networks and card issuers themselves.
Regulatory, legislative, or self-regulatory developments regarding privacy and data security matters.
Damage to, or any failure of, its information technology systems, or cyber-attacks or system security risks may affect its ability to access its data and information in a timely manner.
Any inability to protect its intellectual property including its proprietary technology, which is not registered as an intellectual property right, may be subject to theft, third-party infringement or sabotage.