BANKSTOWN: My Rewards International Limited (ASX: MRI) announced Wednesday it has finalized the acquisition of Fly Wallet Pty Ltd, a financial technology firm specializing in loyalty and rewards wallet programs.
The deal, valued at $785,000, includes a $200,000 payment in shares and $585,000 in cash, to be paid in installments through January 2026. Fly Wallet, a Mastercard principal member and holder of an Australian Financial Services License (AFSL), offers multicurrency wallet and card solutions for global loyalty programs.
“The acquisition aligns with our strategy to expand our loyalty technology and rewards marketplace offerings,” said David Vinson, chairman of My Rewards.
Fly Wallet’s infrastructure supports white-label programs for businesses, including salary-based rewards and travel benefits. The transaction was based on an independent valuation by Nexia Sydney Corporate Advisory.
No board changes are planned, and the cash portion will be funded through existing company resources.
My Rewards, headquartered in Bankstown, provides subscription-based marketplace solutions for corporates and consumers.