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

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

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.

View full BPS profile View Profile

BPS Technology Ltd Timeline

Related Articles

Burning wood pellet
April 30 2018
The company said full-year revenue would be a third higher than previously forecast, with fuel demand likely to have risen steeply with the recent UK cold snaps
picture of trading screens
November 30 2017
Tavistock’s optimism is based on the surge of money into its seven discretionary funds that trade under the Acumen brand.
9 Spokes smart phone screen
April 03 2018
The onboarding rate of small business onto the platform continues to accelerate as banking partners adoption increases.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.