8common (ASX:8CO) enters three-year agreement with EML Payments (ASX:EML)

Software company 8common (8CO) has entered a three-year agreement with card solutions provider EML Payments (EML).

This agreement will see 8common work with EML to create a reloadable card program named CardHero.

CardHero will be launched as both a virtual and physical card, targeted at government entities and large enterprise clients.

Further, CardHero+ will also be launched which will be used by not-for-profits and educational institutions to give funding and reconcile transactions.

“The CardHero products will fill two clear gaps in the market, firstly around integrated corporate payments, and secondly fund disbursement and transaction reconciliation,” 8common CEO Andrew Bond commented.

“Both products have been designed over lengthy engagement with our existing clients and EML. The CardHero products will deliver robust and integrated solutions to support enterprise operating requirements and large transaction volumes,” he added.

Revenue will be determined from a combination of monthly platform fees, and either a per card or percentage of load fee, depending on the user.

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Source: 8common (ASX:8CO) enters three-year agreement with EML Payments (ASX:EML) – The Market Herald