The deal includes the option of two consecutive two year contracts which could take it to nine years.
Prepaid cards offers various benefits from cost savings, fraud control, and risk control advantages over traditional methods of funds disbursement such as credit cards, cash and cheques.
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Emerchants managing director Tom Cregan said, "emerchants’ primary focus is on tailoring prepaid programs to meet each customer’s needs, simplifying the administration of payments, whilst providing greater control through our innovative approach to prepaid cards."
The company has partnered with Visa to create marketing and training materials to support the launch of the prepaid card programs.
Emerchants will initially roll out the Disaster Recovery Card for the Department of Communities, Child Safety and Disabilities Services.
Cregan added, "The Queensland Government has identified the need to have a scalable solution that can be rolled out at a moment’s notice to support the Queensland public during the time of their greatest need.
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By GlobalData"A solution has been developed that allows the efficient processing and distribution of grants, whilst minimising the risk of fraud through segregated administrative responsibilities and with a strong focus on control and oversight."
