This will initially pertain to the group’s operations in China, but AliHealth also intends to appoint YPB as an overseas ISV partner when it launches internationally.
It has been an active three months for the company in terms of winning new clients, having signed up Unilever Pakistan for five years in December in a multi-million dollar contract.
Technology provides security and marketing benefits
YPB provides brand protection and acts as a consumer connections solutions enterprise.
As well as providing security, YPB offers a gateway for brands to connect with their consumers and engender trust in authenticity by using smartphone technology.
Major impact on fiscal 2018 guidance
YPB has provided prior pre-tax profit guidance of $5 million and management said that this contract provided further confidence that the company would meet its projections.
Executive chairman John Houston said: “Moving YPB China to profitability is a key plank in achieving our profit goal and this opportunity with AliHealth is a significant advance in that direction."
Contracts such as these generate two forms of revenue including an annual fee for the platform.
Importantly, there is an ongoing volume-based usage fee which provides earnings predictability for the company.