Fintech firm Novatti Group Limited (ASX:NOV) has reached an agreement with leading accounting software platform, Reckon Limited to integrate Novatti’s payment solutions into their products.
This follows Novatti’s strategic investment in Reckon in July last year. Since then, Novatti and Reckon have been working collaboratively to identify opportunities to add value to their 114k+ users.
The agreement covers both existing and new Reckon products, with an initial focus on incorporating payments into the Reckon One accounting software platform and new invoicing app. This will, for example, see Novatti services integrated into invoices issued through Reckon’s products.
The agreement provides Novatti with an opportunity to further monetise its existing payments ecosystem.
Novatti and Reckon will share equally any gross margin revenue generated from these activities, with any revenue subject to service demand.
Since making our strategic investment in Reckon in July last year, we have really enjoyed working collaboratively with Reckon’s team to identify opportunities to add value to their customers and further monetise Novatti’s payments ecosystem,” Novatti Managing Director, Peter Cook, said.
“The integration of Novatti’s payment solutions into Reckon’s products is the first step in this process. We look forward to continuing to work with the Reckon team going forward and to seeking other opportunities to add value to their 114k+ users.”
Reckon Group CEO, Sam Allert said that as his company continues to increase investment in the development and launch of new products, it is exploring a number of ways to drive additional revenue streams and automation solutions for our clients.
“This agreement with Novatti will provide Reckon with the opportunity to further monetise its existing customer base, and deliver additional services at a competitive rate.”