Emerchants Limited (ASX:EML) has announced it has entered into several multi-year B2B virtual card agreements with companies in the US.
Focusing on improving accounts payable processes, the company will enroll suppliers and pay them via a virtual prepaid debit card, taking a slice of the interchange fee generated on each transaction.
Suppliers are currently being enrolled into the program, which will go live by January 2017.
Emerchants will be looking to generate transaction volumes upwards of $100 million per year once the program reaches maturity in late 2017.
Emerchants Limited reported a net profit of $87,500 at 30 June 2016.