- IncentiaPay (INP) signs a major agreement for its Seamless Rewards business with OpenSparkz, a loyalty and rewards digital innovation company
- The agreement is structured as a binding term sheet and follows IncentiaPay’s first major agreement with Verrency Australia signed last month
- The companies will integrate with each other’s platform which allows OpenSparkz to distribute IncentiaPay’s merchant content to end-customers of its enterprise clients
- IncentiaPay says the deal “provides us with transformational growth potential, with exposure to a $1 billion+ market”
- INP shares have ended the day up 17.7 per cent, trading at two cents
IncentiaPay (INP) has signed a second major agreement for its Seamless Rewards business with OpenSparkz, a loyalty and rewards digital innovation company.
The agreement follows the company’s first major agreement with Verrency Australia in March 2022 and similarly, is structured as a binding term sheet.
The companies have agreed to integrate with each other’s platform to allow OpenSparkz to distribute IncentiaPay’s merchant content to end-customers of its enterprise clients through an application programming interface (API).
“This second agreement builds significant momentum in this transformational new business segment for our company,” IncentiaPay CEO Ani Chakraborty said.
“Seamless Rewards provides us with significant distribution of our merchant offer content and enhances the diversity of our revenue.
“This provides us with transformational growth potential, with exposure to a $1 billion+ market.”
OpenSparkz CEO Terry McMullen echoes Mr Chakraborty’s sentiments, adding that the company will be able to “leverage its payment linked offer platform for the benefit of its customers who are looking for valuable merchant offer content to power their customer engagement strategies”.
IncentiaPay will have transaction-linked revenue exposure each time a card holder transacts and uses a linked card at an IncentiaPay merchant, which will have exposure to a large audience to increase footfalls to their business.
OpenSparkz’s platform enables enterprises and financial institutions to accelerate innovations that power customer acquisition and engagement, providing its technology to several industry-leading institutions globally.
As a result, IncentiaPay will now have access to a large audience of end customers for its Seamless Rewards business.
INP shares ended the day up 17.7 per cent, trading at two cents.