Cirralto Ltd (ASX:CRO) has been granted a trading halt by the ASX with an announcement pending in relation to a proposed capital raising.
The halt will be in place until the start of regular trading on Monday, February 22, or when an announcement is released to the market, whichever occurs earliest.
Business payment aggregator deal
Recently the company has entered into a business payments aggregator (BPA) agreement with Fiserv Inc (NASDAQ:FISV) (FRA:FIV) and MasterCard Inc (NYSE:MA) (FRA:M4I) to extend its business payments services offering.
This agreement builds on a business payments solution provider agreement (BPSP) the company entered into with Fiserv and Visa International Ltd (NYSE:V) and under this deal, Fiserv will serve as exclusive merchant acquirer for Cirralto.
Improved transactional profit margins
The BPA agreement enables Cirralto to commercialise the Spenda product with improved transactional profit margins and streamlined onboarding processes.
As well as complementing the BPSP agreement, it also enables an increased margin on all digital payments where Cirralto is processing transactions between two businesses, being a retailer/or retail service provider and its suppliers.