Australia-listed provider of payment solutions Emerchants Payment Solutions Ltd. announced today that it has penned a partnership agreement with gambling operator bet365. Under the terms of the deal, UK-based customers of the gaming and betting company will be offered Emerchants’ cash card solution. The multi-year agreement comes as an expansion of the existing partnership between the two companies.
Established in 2001, Emerchants is a leading Australian provider of various payment solutions. It leverages both reloadable and non-reloadable debit cards. In order to ensure full compliance with regulators, the company has long been working with well-known and established card associations and institutions. In this way, Emerchants also makes its product easy to implement and scalable for its clients.
It is interesting to note that bet365 is not the first gambling company to partner with the payment solutions provider. The Australian company has also been working with Ladbrokes for some time now or in other words, it has already introduced its services to UK-based gambling customers.
bet365 customers will be provided with a branded Emerchants card that allows them immediate access to their winnings as well as the option to send funds back to their gaming accounts.
As mentioned above, this is not the first time when Emerchants and bet365 will be working together. The two companies have been partners in Australia since August 2015, when the gambling operator implemented the provider’s payment card product. The leading gaming and betting business also utilized the payment solutions company’s EachWay solution for cash loads. Generally speaking, it gives gambling customers the opportunity to deposit money into their accounts with bet365 through a number of retail stores across Australia.
Following the latest announcement, Emerchants said that it cannot provide more comprehensive details about the deal and its terms as these are confidential. The company also pointed out that it cannot reveal when exactly its product will be launched with bet365 and will become available to its gambling customers. Updates regarding the deal will be provided to shareholders in due manner.
Emerchants reported record net profit of A$633,000 for the twelve months ended December 31, 2015.
