A Game-Changer in Hospitality Payments
Spenda and eBev: Forging a New Path
In a strategic move set to transform the hospitality industry, Spenda Ltd has partnered with eBev Pty Ltd. This collaboration is aimed at providing integrated payment solutions across the eBev marketplace, which encompasses the entire hospitality supply chain.
The eBev Platform: A Hub for Alcoholic Beverage Procurement
eBev, a software provider, has developed a platform enabling licensed premises to efficiently order a wide range of alcoholic beverages. The platform, with a catalogue of over 70,000 products from 12,000 producers and 800 distributors, has already attracted over 2,500 licensed premises as regular buyers.
The Strategic Partnership
Integrating Advanced Payment Solutions
The heart of this partnership lies in integrating Spenda’s innovative payment solutions, including Pay-Statement-By-Link (PSBL) and Accounts Payable (AP), into the eBev platform. This integration is designed to streamline payment processes for both B2B and B2C transactions in the hospitality sector.
Enhanced Services for Licensed Premises
Licensed premises will benefit from a range of services including merchant services for physical and virtual terminals, e-invoicing, and payment services. This integration promises to simplify financial transactions, enhancing efficiency and customer satisfaction.
Financial Solutions and Benefits
Innovative Card-Blended Finance Accounts
Spenda’s partnership with AirPlus International will facilitate extended trade terms through pre-approved virtual Mastercards. These card-blended trade finance accounts will provide licensed premises the flexibility to purchase goods from the eBev platform on standard statement terms, subject to credit approval.
The Potential for Rapid Scaling
This card-blended finance approach complements Spenda’s current debt funding structure and introduces a new lending service. It’s designed for rapid scaling into larger facilities and cross-border opportunities, promising to extend Spenda’s reach in international markets.
The Phased Roll-Out
Initial Implementation and Revenue Projections
The first phase of this integrated solution will involve 100 clients over three months in early 2024. This phase alone is expected to generate approximately $800,000 in annualized revenue.
Expansion and Scaling
The second phase, set to commence in the fourth quarter of FY24, will broaden the service to more stakeholders in the eBev marketplace, further enhancing the reach and impact of this strategic partnership.
Conclusion
This collaboration between Spenda and eBev marks a significant step forward in payment solutions within the hospitality industry. By leveraging the strengths of both companies, they are set to deliver seamless, efficient, and innovative financial services that could redefine the way the hospitality sector operates.
