Perspectives, Trends & News

iGoDirect Group Granted AFSL – Enables Direct Issuing in Australia

on Tue Jan 01 2024
  • News

iGoDirect Group is pleased to announce that the Australian Securities and Investments Commission (ASIC) has granted iGoDirect an Australian Financial Services Licence (AFSL).

iGoDirect Group, Australia’s leading and long-established prepaid card and promotional technology provider has been granted the licence ahead of significant impending changes to Gift card providers by regulators.

Pat Dalton, Founder of iGoDirect, highlights:

“As a pioneer in prepaid in Australia with a proven track record in enhancing and disrupting the Australian market, our added regulatory licensing capabilities put us in a unique position to capitalise on the growing demand for accessible, frictionless and scalable prepaid card issuing. Our expertise in rewards and promotions gives us a competitive advantage in understanding consumer trends, which we will now be able to deliver with more innovative, experiential solutions.”

This is an important milestone for iGoDirect as it will enable our direct issuing capability in Australia and unlock new opportunities for innovation. The AFSL finalised the process of obtaining the licence to issue Visa Prepaid cards in Australia and demonstrates iGoDirect’s commitment to delivering simple, secure and reliable end-to-end prepaid services to its clients.

Licence Authority

The licence enables iGoDirect to provide the following key financial services offerings to retail and wholesale clients:

This licence authorises the licensee to carry on a financial services business to:

(a) provide general financial product advice for the following classes of financial products:

(i) deposit and payment products limited to:

(A) non-cash payment products; and

(b) deal in a financial product by:

(i) issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

(A) deposit and payment products limited to:

(1) non-cash payment products; to retail and wholesale clients.

About the iGoDirect Group

Established in 1999, the iGoDirect Group is a rewards and promotional technology provider with end-to-end solutions in gift cards, consumer promotions and data analytics. iGoDirect has been at the forefront of direct marketing and the evolving digital landscape, leveraging its proven technologies and innovative platforms.

Boasting hundreds of thousands of members, iGoDirect manages YourSayPays; a platform that invites consumers to participate in surveys and competitions in return for gift cards. The company also runs Rewards Come True and True Rewards working with brands to formulate cashback, loyalty, and reward programs to buoy sales targets and contribute to consumer and employee satisfaction.

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