Emerchants Limited (ASX:EML)
says it’s done a deal with Cash Coverters International Limited (ASX:CCV)
for Cash Converters to use Emerchants prepaid debit cards to disburse cash advance loan funds.
There are over 150 Cash Converters stores Australia-wide and following a 24 store trial the new agreement will expand the Emerchants solutions into 95 stores across the country.
The program will allow online customers to receive cash advances instantantly and allow in-store customers improved financial management.
The solution should be fully implemented in November.
Emerchants reported a net profit of $2.86 million for the 2015 financial year.