NO REST FOR EMERCHANTS IN FY17
Written on the 16 November 2016 by James Perkins
EMERCHANTS expects this year to match the highs of FY16, and it has grown gross profit by 218 per cent int he first half of this FY17, says chairman Peter Martin.
"Even more encouraging is the fact that the growth in business volumes was accompanied by a significant increase in the generation of free or sustainable cash flows, the measure by which a business of this type should be valued," adds Martin.
The company plans to continue its growth both organically, and through acquisitions. Martin says the greatest opportunities for growth come from overseas and Emerchants wants to buck the trend of Australian companies bodging international expansion.
"This is the first time this technology has been offered and it is ground-breaking, providing the ability to use a cash balance on a prepaid card, plus accrued loyalty points converted into cash, and other funding via payment methods such as a credit card at the same time to make a purchase."
Clients in Australia are showing interest in the product, and Emerchants plans to introduce it to Europe in 2017.