From this mornings newsletter (sent to 130k readers) Emerchants...

From this mornings newsletter (sent to 130k readers)

Emerchants

This week's CEO is Tom Cregan of Emerchants, an interesting start-up that appears to be entering lift off. Well, it's not exactly a start-up. The former chief of WA energy firm, Alinta, Bob Browning, and a few of his mates, bought control of a small Perth minerals explorer called Australasian Consolidated and raised some money in it with the idea of investing in something. They weren't sure what.

They bought a little Queensland gift card business and changed the name to Adept Solutions, before hiring Tom Cregan, an Australian who had spent a while in the US starting up a prepaid credit card business there. As you'll hear from Tom, the US and Australian markets are quite different (there aren't as many really poor people here who need pre-paid credit cards outside the banking system, because they can't get one from a bank) but he reckons there is a market for them here, partly with online gambling.
Anyway, it's an interesting yarn and might be worth a small flutter if you like the story. You can watch the interview here.