Our Moats
1. Retailer-Mandated Adoption
Creates network effects. Would break competitors' business models to adopt.
2. Unified Data Core (Nexus)
Competitors are integration layers. We're the data layer.
3. Transaction Pricing
Aligned with value. Not subscription. Scales with customer success.
4. Compliance Embedding
First-mover on e-CMR. Regulatory wedge creates switching costs.