Dealer finance trials in full swing

Dealer finance trials in full swing

MoneyTech is in the final stages of trialling its DealerCard system, with plans to have all distributor and reseller partners onboard by November.

Sales and marketing director, Sonja Menezes, said 50 resellers were now participating in the pilot across Australia. Each had a limit of $10,000. The first transaction was conducted between Cellnet and Victorian reseller, SysEx.

Distributors in Sydney, Melbourne and Adelaide had been trained up and were actively processing orders. The next step would be to train partners in Queensland, she said.

The company expected this to take a further four weeks.

DealerCard is a credit card program developed specifically for the channel. Features include 30 days interest-free credit, automated ordering and up to $250,000 in credit. A further 500 cards were still to be sent out to signed resellers, Menezes said. Once the full system was up and running, she said Moneytech would go back on the recruitment trail to gather up more distribution support. This could include targeting its most notable absentee, Ingram Micro.

Moneytech was also promoting its range of credit and leasing options through Cellnet's Innov8 roadshow, which was currently touring the country.

Menezes said the finance outfit had been overwhelmed by the scale of the operation.

"The workload immediately before us is enormous," she said. "We've no need to sell further just yet."

The company was experiencing success with its leasing card system, RentCard, Menezes said, with 350 resellers and consultancy firms now participating in the scheme. The RentCard program allows dealers to provide end-users with pre-approved rental financing.

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