SYDNEY: Gratifii Limited (ASX:GTI), a prominent loyalty and rewards enterprise, has announced the signing of two pivotal agreements with EML Payment Solutions Limited, a subsidiary of EML Payments Limited (ASX:EML).
These agreements aim to enhance Gratifii’s offerings in the Australian market by delivering prepaid debit cards and expanding reward options for EML’s clientele.
A 3.5-year Stored Value Cards Agreement will enable Gratifii to utilize EML’s cutting-edge payment technology to issue custom-branded digital prepaid gift cards.
This move is set to strengthen Gratifii’s position in the market and provide its clients with a competitive edge in their rewards programs.
Additionally, a 12-month contract has been established for EML to incorporate Gratifii’s extensive rewards content, which includes over 250 suppliers and 2,000 products. Gratifii’s CEO, Iain Dunstan, expressed enthusiasm about the collaboration, highlighting the planned roadmap that promises instant reward delivery to customers’ digital wallets and added value for EML’s cardholders.
The Australian gift card sector has seen a significant growth, with an 11% CAGR from 2018-2022, reaching an estimated value of US $6.3 billion in 2022.
With the cost of living on the rise, the demand for such services is expected to soar. Gratifii anticipates these agreements with EML will substantially boost its gift card margins and contribute to the company’s growth, capitalizing on the increasing popularity of gift cards in both retail and corporate sectors.