logo-loader

BPS Technology Ltd offers finance products worth $100M to merchants

Published: 14:00 08 Sep 2016 AEST

au_australianhundreddollar350_57d0e2dcd38f8

BPS Technology Ltd (ASX:BPS) has launched a new business finance product to support and enable its small and medium enterprises (SME) merchant partners.

More than 36,000 SMEs transact in excess of $600 million per annum using BPS’ software and trade exchange technology platforms.

The company has executed a new agreement with Get Capital Pty Ltd, a fintech lender, which will make available a range of finance products to BPS’ 36,000 merchants.

As part of the agreement, GetCapital will provide up to $100 million over the initial year of the agreement to support the partnership.

BPS Financial Ltd, a subsidiary of BPS Technology, will market the tailor-made finance products to its merchant base.

Importantly, BPS will not carry the loan, risk or recourse on its balance sheet.

The company will receive an upfront and ongoing commission on all transactions, which will commence from 1 November 2016.

BPS earned a net profit after tax of $7.34 million for FY2016, with revenue increasing to a record level of $50.2 million.

This has allowed the company to consistently reward investors, paying out dividends of $0.0325 in September 2015, $0.0225 in March 2015, $0.02 in April 2016 and $0.02 to be paid out in October.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

9 hours, 37 minutes ago