Gratifii, the enterprise loyalty and rewards firm, has signed two new agreements with Australian funds firm EML Funds to ship pay as you go debit playing cards to Gratifii’s Australian purchasers and prolong the vary of rewards out there to EML’s purchasers.
Gratifii has signed a 3.5-year Saved Worth Playing cards Settlement with EML. Below the settlement, Gratifii’ will entry EML’s proprietary fee expertise to distribute buyer branded digital pay as you go present playing cards to Gratifii’s Australian purchasers. This functionality will consolidate Gratifii’s present card companion relationships and permit its purchasers to distinguish their rewards providing.
Gratifii has additionally signed a 12 month settlement with EML for EML to entry Gratifii’s reward content material. Gratifii at present manages 250+ reward suppliers and over 2,000 merchandise.
Commenting on the agreements, Gratifii CEO and Managing Director, Iain Dunstan, stated, “It has been nice working with the workforce at EML. Collectively now we have an thrilling roadmap deliberate to permit instantaneous rewards to be delivered straight to the digital wallets of our consumer’s finish clients and in addition present added worth to EML’s cardholders.”
The Australian present card market has grown quickly lately, experiencing a compound annual development price (CAGR) of 11% throughout 2018-2022 to achieve an estimated US $6.3 billion in 2022. The rising value of residing is anticipated to additional drive demand amongst Australian customers.
Though not attainable to quantify till the packages go reside, Gratifii expects the packages with EML to considerably enhance the contribution to Gratifii’s on-going present card margins in the course of the the rest of FY24 and past. The settlement validates Gratifii’s technique of specializing in the competitiveness of its rewards market and offers a chance for materials future development by the rising recognition of present playing cards within the retail and company employer segments.
All circumstances precedent on each Agreements have been fulfilled and the contracts are unconditional.
