iCash and Metcash sign agreement
iCash Payment Systems Limited (ICP) and Metcash Limited (MTS) have signed an agreement enabling iCash to become part of Metcash Advantage. The ATM manufacturer and operator said the program provides Metcash customers with a comprehensive range of technology based products and services.
iCash Chairman and Executive Director, James Manny, said the agreement is structured to deliver competitive benefits to all stakeholders.
“The iCash vertical integration model delivers competitive pricing through control of the value chain,” Mr Manny said.
“It also addresses the non-price imperatives of the relationship.”
Mr Mann said this was achieved through the company’s control of, and direct access to, the ATM manufacturer.
iCash said the agreement with Metcash provided iCash with a significant increase in customer reach, improved risk management through market diversification and a strong referral network, supported by an existing sales force that has a successful track record with EFTPOS distribution within the Metcash customer network.
At the close of trade yesterday, iCash shares were trading at 6.6c, while Metcash shares were trading at $4.50.