Electronic payments platform Spenda (ASX:SPX) started the SwiftStatement member program with automotive member group Capricorn to moderate the delivery and use of Capricorn's statement data, according to a Wednesday filing with the Australian bourse.
Under the terms, Spenda will receive a platform license fee from Capricorn of AU$1.4 million and generate recurring software-as-a-service revenue from Capricorn's around 30,000 members. The companies will launch SwiftStatement next month.
The companies have also executed a preferred supplier agreement allowing Spenda to offer its products and services to Capricorn's membership, the filing stated.
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