The US subsidiary of EML Payments Limited (ASX: EML) has struck a deal with Simon Property Group for the distribution of multiple payment card products through select Simon shopping malls and B2B distribution channels in the USA.
Highlights of the Agreement
- A non-exclusive multi-year agreement has been signed between EML Payments USA, LLC and Simon;
- Programs under the agreement have not yet launched, but EML presently expects they will launch within 90 days;
- EML expects the GDV to revenue conversion ratio under the agreement to be materially in line with other Non-Reloadable card programs the group operates.