Identity & access
Sign-in, membership and organisation profiles.
PLATFORM · THE ASSET BEHIND THE INVESTMENT
One core. Many networks. More value from each deployment.
The core platform investment is already in place, according to management. FORUS can apply that shared foundation to different communities, services and markets, with ongoing development focused on what each deployment needs.
WHY REUSE MATTERS
A lean cost base starts with shared infrastructure.
Identity, transaction coordination, workflows and reporting are common needs across many networks. Reusing those capabilities reduces the need to build a separate technology stack for every opportunity.
Management describes current running costs as very low. The investor question is how that cost base behaves as usage grows: platform hosting, support, provider charges, compliance and local delivery all remain part of the economics.
Explore costs and cash in the Observatory →THE SHARED FOUNDATION
Tools that support everyday economic activity.
Payments & value
Collections, payouts and reconciliation through approved providers.
Network operations
Teams, governance and operational workflows.
Commerce
Trading, procurement and routes to market.
Data & reporting
Records of participation and activity to support decisions.
Integration
Connections to partner systems and local services.
Source: FORUS capabilities. Availability and approvals depend on the market and deployment.
FROM INFRASTRUCTURE TO INCOME
Configure. Activate. Repeat.
Configure the use case
Work with a partner to define the service, responsibilities and commercial arrangements around the existing platform.
Activate participants
Connect members, organisations and merchants to a service they have a practical reason to use.
Build repeat activity
Measure usage, retained revenue and the cost of delivery. Expand the services and networks where the economics work.
THE ECONOMIC ADVANTAGE
Grow the value of the platform already built.
The opportunity lies in more productive use of the shared core, with recurring activity and disciplined incremental spending.
PUBLIC MODEL REFERENCE
Understand which entity receives the revenue.
Platform usage, revenue retained by the N.V. and investor distributions are different measures. The earlier public allocation example is retained below with its original assumptions. Use the dated policy and entity shown in the Observatory when reviewing a financial scenario.
View the August 2026 allocation and unit-economics reference
COMMERCIAL STRUCTURE
Local distribution, shared economics.
FORUS Card Services N.V. owns or licenses the core platform intellectual property and Allocation Engine. FORUS Digital Cooperative is the member governed licensee and custodian of the partner register. Local operators are intended to run approved deployments.
The proposed N.V. allocation applies to defined Platform-Usage Revenue, after payment provider costs and excluding professional services and pass-through costs. Revenue attribution and the final agreements need to be settled.
WHO DOES WHAT
The investment is in one company within the ecosystem.
The proposed ordinary shares are in the N.V.
FORUS Card Services N.V.Platform IP holder or licensee and proposed recipient of a defined usage-revenue allocation.Proposed investee
FORUS Digital CooperativeMember governed licensee, partner-register custodian and operator of the cooperative ecosystem.Separate entity
Local operators and partnersBring networks, configure use cases and deliver approved services in their markets.Distribution and operations
The N.V.'s proposed revenue right is contractual. An N.V. shareholding does not convey ownership of the Cooperative or its members. The related agreements were not yet effective in the August pack.
PROPOSED REVENUE ALLOCATION
How defined platform usage revenue is shared.
40%Country and use-case partners
20%Member entitlement
20%Operations
20%FORUS Card Services N.V.
The Cooperative constitution records this split. The Master Joint Venture Agreement mirroring it was a draft in the August 2026 pack.
ILLUSTRATIVE UNIT ECONOMICS
How the USD 10 model assumption flows to the N.V.
Illustrative annual amount per active user; the revenue base requires reconciliation.
Assumed model revenue baseUSD 10.00
20% N.V. allocationUSD 2.00
Assumed Nobuntu CSI allocation: 12.5% of N.V. share− USD 0.25
Modelled N.V. revenue retainedUSD 1.75
The waterfall deducts payment provider costs before the four-way allocation, yet the August model describes USD 10 as gross platform revenue per user. The exact USD 10 revenue base must be reconciled before treating USD 1.75 as an operating estimate. The figure is before company costs, interest, tax and any dividend. The Nobuntu commitment also needs its governing document.
See adoption sensitivities ↗THE FORUS INVESTOR OBSERVATORY
The investment story. The numbers behind it.
Compare budget with actuals, explore peer KPIs and test the financial models in one invitation-only workspace.