Payment services company, Spenda Ltd (ASX:SPX) has successfully completed the foundational phase of its Digital Services Delivery (DSD) initiative with Capricorn Society Ltd.
Capricorn, a member-based organisation that supports automotive industry businesses, selected Spenda in May as its preferred supplier to deliver the first phase of its DSD initiative.
The parties entered into a contract for the initial DSD project works to be carried out over a 12-week period and the works were successfully completed on time.
DSD initiative
This DSD initiative builds upon Capricorn’s existing CAPLink infrastructure, which forms part of the services currently delivered by Spenda to Capricorn under the Software, Services and Maintenance Agreement, which expires next June.
It is a significant and strategic project that promotes utilisation of the Capricorn account via their preferred suppliers’ rapidly growing ecommerce channels. The DSD project is a parallel method of transaction acceptance to CAPlink, enabling Capricorn members and suppliers to process charges to the account.
Now that the 12-week period is over, the parties are negotiating to extend the foundational phase engagement on the same terms to facilitate further work and deeper engagement with Capricorn’s key suppliers.
Key suppliers consulted
During the now-completed foundational phase, the joint project team met with a cohort of Capricorn’s key suppliers and discussed the scope of their requirements, along with the timing for the release of the various DSD products and services, which will include tailored versions of Spenda’s Pay-Statement-By-Link and Payment Widget products.
These meetings have helped the joint project team prioritise capabilities and develop the extended solution requirements and project planning materials.
The Master Services and Licensing Agreement is being discussed while the scope of the next steps is being defined.
Building a long-term partnership
Capricorn chief executive officer (automotive) Bradley Gannon said: “We have had a long-term partnership with Spenda and we are looking forward to working together on the next steps as we build our digital technology platforms to enhance our online member experience.”
Spenda chief executive officer and managing director Adrian Floate said: “The joint project teams are starting to bring together a set of technologies that will form the foundation of the next chapter of the parties' 20-year relationship. We are very excited to bring this platform to life and deliver it at scale in the coming months and years ahead.”