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read moreCommSecure wins e-payments deal with MLC
Stan Beer
Wednesday, 01 December 2004 05:42
Electronic payments provider, CommSecure Limited (ASX:CMS), has won a deal for an undisclosed amount to provide a custom online fee collection system for advisors at Australian wealth management group, MLC.
The system will enable advisors to use a fee-for-service pricing model for advice rather than receiving payment via commissions only. It will enable both direct debit and credit card transactions online, and will be available to all self-employed aligned and salaried advisors from December
2004.
CMS was selected as preferred supplier in a competitive bid early in 2004. Roll-out commenced in October and deployment is due for completion by the end of the 2004 calendar year.
The three-year contract will earn CMS one-off consulting and setup fees, annual licence revenues and revenues per transaction.
CMS shares were up 0.6c on light trading to close on 6.3c.
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