Store Financial Europe, a subsidiary of Emerchants, has signed a multi-year agreement with Germany-based property developer and manager MFI, a wholly-owned subsidiary of Unibail-Rodamco, for a shopping mall gift card program.
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The MFI shopping mall gift card program will be launched on 2 January 2015 and will replace the existing paper-based gift voucher system. The program will be implemented in 25 shopping malls in Germany.
The agreement, which has its commercial terms undisclosed, will render MFI as the largest customer of Store Financial Europe in terms of total load value with the program expected to be accretive to the earnings of fiscal year 2016.
Emerchants managing director Tom Cregan said: "This agreement further entrenches our position as the market leader in the shopping mall prepaid market in Europe, where we will be managing over 142 programs by the end of Q3FY15."
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By GlobalData
