EML's FINLAB invests in Interchecks & ignites international expansion aspirations


EML PAYMENTS LIMITED (ASX: EML) (‘EML’) is delighted to confirm its
strategic partnership and investment in payout start-up Interchecks
Technologies, Inc. via its new FINLAB FinTech incubator. This partnership
allows Interchecks to put global expansion into Europe and Australia on the
table while expanding EML’s payout options in the United States.

Customers and prospects of both companies can provide a suite of robust
payout options while taking advantage of other significant value add features
such as 1099 Compliance, Split Payments and Recipient Fee Modelling.
Additionally, a white-label portal for customers and their payees is available
to allow for quick payments, file uploads, real-time analytics, dynamic billing,
tools for servicing and on-demand reporting. For clients who want to avail of
direct integration into their existing portals or apps, a comprehensive suite of
elegant RESTful APIs will allow them to custom create their own
empowering user experience.

The Deal Makes Sense on Several Fronts:
• EML provides a trusted partner for the provisioning of prepaid card
payments with General Purpose Reloadable (GPR) solutions covering
plastic, virtual and tokenised payments into the Interchecks platform.
• EML provides a new sales force that can more widely distribute, consult
and implement with Interchecks for businesses seeking a seamless and
engaging payout experience.
• Through EML’s investment, Interchecks can expand into large new
markets like Europe, the UK and Australia.

“Interchecks’ strong relationship with EML allows us to incorporate several
new features into our payouts platform, including a platform-wide instant
issue reloadable prepaid card. This new payment account can be funded by
any payer on our platform and used by our recipients in place of a standard
bank account. Also, EML gives Interchecks a pathway to implement our
international strategy as we continue to build out a global payouts
platform,” explained Bob Chevlin, Interchecks’ Co-Founder & Chief
Product Officer.

”FINLAB superpowers EML’s ability to invigorate great payment companies
like Interchecks. Bob, Dylan and the team are outstanding strategic partners
for us as we work together to enhance the attractiveness and value of the
Interchecks product portfolio. Interchecks is a superb way for businesses to
make payouts, manage 1099 Compliance, and so much more. Simply
designed but sturdy in function, all a business needs to make a payment is
an email address. Interchecks provides the payout routing, appropriate
controls, compliance, security and reporting that companies require.

The result is a powerful payout platform that simplifies the payout experience for
businesses while providing a more engaging payout experience for employees, contractors and customers. We’re excited to welcome Interchecks to the EML family of trusted industry partners,” stated Tom Cregan, EML’s Managing Director & Group CEO.

Last week, EML announced FINLAB to the world at the EMLCON 2020
digital extravaganza where Interchecks’ Dylan Massey, Co-Founder &
CEO addressed the audience: https://emlconglobal.com/

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