Emerchants signs B2B virtual card deals in US

Company News

by Jessica Ellerm

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. 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.