You must think all money is moved physically and not electronically transferred all over the world right?
If I send you an e transfer for 5k surely it gets sent in a rocket to your home
Where's the risk? They're profitable and trading at 30x P/E. Pair it with a short against one of these companies trading at 100x multiples. They don't need a moat, they just need a niche. Most companies don't have a moat.