Background
Emerchants identified an opportunity in Australia around services, products and entire processes generated by Electronic Prepaid Infrastructure.  This is after witnessing the emergence of the Electronic Prepaid Industry in the US.  

Approximately 30% of the US population were not eligible for a bank account due to not a these people not holding a social security number.   To cater for this, prepaid funds disbursement products were developed by non banking institutions to minimise the fees and security risks associated with issuance of cheques. The RBA equivalent in the US allowed technically competent companies to process cards that worked on local networks as long as the funds held were not deemed at risk.

The Beginning
In 2001, Emerchants launched innovate, prepaid online services/products usually only offered at financial institutions that normally dealt in this space (Banks). This alternate option presented customers greater choice and flexibility.

Emerchants first transaction occurred in November 2004 and we have since issued over 3 million cards.

Today
As of 1 July 2011, Emerchants became part of an ASX-listed company, with the business being acquired recently by Adept Solutions Limited. Adept Solutions, (Adaptable, Definable, Efficient Payment Transactions), previously known as Australasia Consolidated, is a Perth-based company with several high-profile and experienced directors including Managing Director Bob Browning.

As one of Australia’s leading issuers of pre-paid financial cards, Emerchants is well positioned in an industry that has an exciting future.

Our Product/Service Delivery
Proudly the largest supplier of cards in Australia Emerchants offers custom made prepaid payment solutions across many industries, including programs such as:

Gift and Loyalty
Staff Incentives and Rewards
Prepaid MasterCards®
Corporate Expense and Travel
Direct Entry Settlement and Identification

Primary markets for Emerchants are Corporate Expense and Travel, Staff Incentives and Rewards, Gift and Loyalty.

Emerchants philosophy is not just to provide a piece of plastic with access to cash, our technical department is constantly developing applications to provide even more benefits when using our products.

Emerchants business model is based on providing host based stored value services over existing infrastructure. The established Electronic Financial Transaction (EFT) network in Australia is EFTPOS, Emerchants has direct connectivity to this network and authorises all transactions through this presence. To satisfy the regulators that card holder’s funds are not at risk, Emerchants does not hold the funds in its name nor is it signatory to the account. All settlements with interchange partners are performed by an ADI in bulk.
Emerchants is audited by external auditors monthly/half yearly and annually to ensure reconciliations are true and correct.