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Moneytech launches RentCard scheme

Moneytech launches RentCard scheme

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Moneytech is launching a new reseller credit scheme which allows resellers to finance inventories.

The new RentCard loyalty program offers resellers the ability to pass on pre-approved rental finance to customers. Its launch follows on from the announcement last year of the company's inaugural DealerCard loyalty scheme.

The DealerCard is based on a silver, gold and platinum model with the top tier offering resellers up to $250,000 worth of credit.

Moneytech CEO, Hugh Evans, said RentCard followed the same structure but with different qualifications criteria.

"The RentCard scheme is more about how much equipment you rent and number of times you rent it so it is based more on loyalty," he said.

Sums from $2500 upwards could be financed, Evans said. This was based on an accreditation program that included assessing the credit worthiness of applicants.

RentCard differentiates its product from other consumer rental players by using commercial finance to offer more cost effective credit.

This, along with offering resellers a commission-based income, distinguishes RentCard from the competitors such as Flexirent, RentSmart and Technorent, Evans said.

"Most of the opposition operates in the consumer rental space, distributing through Harvey Norman for example," he said. "It is very expensive because consumer finance is used.

"RentCard addresses commercial finance and leasing primarily so we focus very heavily on corporate, government, education and small business."

The loyalty style program is supported online via the company's Moneytech Exchange website for asset management that also includes the functionality for resellers to manage their RentCard accounts securely.

The introduction of RentCard's this month has pre-empted the launch of Moneytech's flagship product, DealerCard, which was initially slated for release last year.

Evans said the DealerCard card was now scheduled to go live in June.

"We are pretty much over the critical mass phase with DealerCard and are now making sure all the systems are in and tested," he said.

Both cards will be distributed through the company's 18 channel partners, including Brightpoint and Cellnet.


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