(MENAFN- ProactiveInvestors - Australia) Adept Solutions (ASX: AAO) has secured a three year agreement with The Salvation Army Australian Southern Territory to distribute and process a range of re-loadable prepaid debit card solutions.
The Salvation Army is one of the world's largest Christian social welfare organisations, and has been operating in Australia for over 130 years.
The Salvation Army Australian Southern Territory â€" which covers Victoria, South Australia, Tasmania, Western Australia and the Northern Territory â€" delivers services across more than 600 social programs and over 180 churches.
The card programs include solutions for the emergency disbursement of funds on a prepaid card, supporting those having recently experienced a disaster event, and solutions for the disbursement of welfare funds.
Internally, The Salvation Army Australian Southern Territory will use Emerchants card programs for general corporate expense management and for the management of petty cash.
The programs will be launched in a staggered fashion from January 2013.
Large market opportunity
The prepaid card industry is growing rapidly in Australia with the market opportunity estimated at A$16.2 billion in spend value per annum.
In the country, debit growth is outstripping credit as corporates and consumers de-leverage.
In the U.S. market US$461 billion was loaded onto prepaid cards in 2011, up 18% from 2010.
Strong growth in the U.S. is supported by the diversity of the prepaid market and technology driven opportunities.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.