ASX-listed Gratifii announces two new agreements with EML Payments
Gratifii, the enterprise loyalty and rewards company, has signed two new agreements with Australian payments company EML Payments to deliver prepaid debit cards to Gratifii’s Australian clients and extend the range of rewards available to EML’s clients.
Gratifii has signed a 3.5-year Stored Value Cards Agreement with EML. Under the agreement, Gratifii’ will access EML’s proprietary payment technology to distribute customer branded digital prepaid gift cards to Gratifii’s Australian clients. This capability will consolidate Gratifii’s existing card partner relationships and allow its clients to differentiate their rewards offering.
Gratifii has also signed a 12 month agreement with EML for EML to access Gratifii’s reward content. Gratifii currently manages 250+ reward suppliers and over 2,000 products.
Commenting on the agreements, Gratifii CEO and Managing Director, Iain Dunstan, said, “It has been great working with the team at EML. Together we have an exciting roadmap planned to allow instant rewards to be delivered straight to the digital wallets of our client’s end customers and also provide added value to EML’s cardholders.”
The Australian gift card market has grown rapidly in recent years, experiencing a compound annual growth rate (CAGR) of 11% during 2018-2022 to reach an estimated US $6.3 billion in 2022. The rising cost of living is expected to further drive demand among Australian consumers.
Although not possible to quantify until the programs go live, Gratifii expects the programs with EML to significantly increase the contribution to Gratifii’s on-going gift card margins during the remainder of FY24 and beyond. The agreement validates Gratifii’s strategy of focusing on the competitiveness of its rewards marketplace and provides an opportunity for material future growth through the growing popularity of gift cards in the retail and corporate employer segments.
All conditions precedent on both Agreements have been fulfilled and the contracts are unconditional.
