Emerchants capitalises on its US acquisition
Prepaid card supplier Emerchants has followed up its acquisition of United States company Store Financial Services in May with news that it has signed agreements with four new US customers.Emerchants will supply "B2B virtual card services" to industrial air filtration company BHA Altair, metal recycler Midwest Scrap Management, cable TV operator WideOpenWest, and telecommunications company Sprint.Virtual prepaid debit cards will allow the companies to eliminate paper from their accounts payable arrangements with suppliers and improve invoice and data management.Emerchants chief executive Tom Cregan said in a statement: "These arrangements are an important development for the strategic growth of EML in the US market."Cregan said the four programs would generate A$100 million in transactions by next year. Emerchants charges an interchange fee on transactions.The company had another business win in the US earlier this month, when it announced that it had signed an agreement with Caesars Enterprise Services to provide payment services for Caesars' loyalty program.