Wholesale distributor and marketer of groceries and liquor Metcash Ltd
(ASX:MTS) has signed an agreement with iCash Payment Systems Ltd
(ASX:ICP) for iCash to become part of Metcash Advantage.
Metcash Advantage is a program that provides Metcash customers with a comprehensive range of technology based products and services.
iCash chairman James Manny says this agreement is structured to deliver competitive benefits to all stakeholders.
Mr Manny says the iCash vertical integration model delivers competitive pricing through control of the value chain. It also addresses the non-price imperatives of the relationship.
Mr Manny says this is achieved through the company’s control of, and direct access to, the ATM manufacturer.
Metcash posted net profit of $202.5 million in 2009, and looking at the past five years iCash is yet to post a net profit.
