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- Transaction services business Cirralto (CRO) signs a five-year referral agreement with Mastercard
- This agreement adds to the business payments aggregator (BPA) agreement signed with Fiserv and Mastercard in December 2020
- Under the BPA, Fiserv handles transactions on behalf of Cirralto, meaning the company is able to process Mastercard cards
- The five-year referral is effective immediately and will be automatically renewed for one year as soon as the five years have passed
- Cirralto has ended the day in the grey with shares trading at 5.6 cents
Transaction services business Cirralto (CRO) has signed a five-year referral agreement with Mastercard.
This agreement adds to the business payments aggregator (BPA) agreement signed with Fiserv and Mastercard on December 14, 2020.
Under the BPA, Fiserv handles transactions on behalf of Cirralto, meaning the company is able to process Mastercard cards.
It also improves Cirralto’s payments margin by 40 per cent and allows the company to process card payments as the merchant of record.
The five-year referral is effective immediately and will be automatically renewed for one year as soon as the five years have passed.
Additionally, either party may terminate the agreement by giving 30 days notice.
Cirralto CEO Adrian Floate was pleased with the initial agreement and is excited that it has been extended a further five years.
“We are very excited to announce that we have signed an agreement with Mastercard, with whom we have developed a very strong relationship between 2020 and 2021,” Mr Floate said.
“This agreement serves as a strong validation of what we are doing while also providing us the opportunity to potentially access a significant customer base.
“The solution we will provide to Mastercard customers provides the company with a fantastic opportunity to rapidly scale its business and grow within Australia and abroad.”
Cirralto has ended the day in the grey with shares trading at 5.6 cents in a $165.2 million market cap.
