Vancouver, British Columbia–(Newsfile Corp. – July 22, 2021) – EonX Technologies Inc. (CSE: EONX), a financial technology company powering the next generation of eWallet, Payments and Loyalty platforms, has signed a two year agreement with Mastercard Loyalty Solutions in Australia. The strategic Master Supplier Agreement with Mastercard is the first step for EonX to deliver digital and physical gift card solutions to Mastercard’s customers and network of partners.
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Gift cards are generally issued by a retailer or bank for promoting businesses, attracting new customers, increasing brand awareness, reducing fraud, and improving business sales.
Andrew Kallen, CEO, stated: “We are excited by the opportunity to work with Mastercard Loyalty Solutions and look forward to extending our loyalty platform solutions to their customers and partners.”
EonX will facilitate the end-to-end creation, distribution, stock management, warehousing and fulfilment of digital and physical gift cards. The company is reviewing the business case prior to forecasting anticipated monthly volumes and will make further public announcements when available.
Leading market research and advisory company, Allied Market Research, recently reported “The global gift cards market size was valued at US$619.25 billion in 2019, and is projected to reach US$2,076.51 billion by 2027, growing at a CAGR of 16.2% from 2020 to 2027. Technological advancements associated with payment solutions and increase in demand for branded products are expected to provide lucrative opportunities during the forecast period. With an unprecedented COVID-19 health crisis, the demand for gift cards has experienced significant growth, owing to limited use of cash payments in the market.”
EonX has established a successful loyalty platform that includes delivering digital and physical gift card solutions to leading Australian enterprises. The company provides white-label platforms for large enterprises looking to better engage, reward and securely transact with their members, customers and employees. These enterprise clients on-board their customers to the platform in order to facilitate Payments and generate redeemable eWallet balances, while earning Points and accessing exclusive Marketplace Rewards.
The company has agreements in place with major national retail brands in Australia and is at an advanced stage in launching a similar solution in the United States.
The shares, which were listed on the Canadian Securities Exchange on May 27th, are currently trading at $0.59. For more information, please visit the company’s website www.eonx.com, contact Andrew Kallen, CEO, at +1-803-676-7776 or email at [email protected].
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