Latest news with #MME
Herald Sun
6 days ago
- Business
- Herald Sun
MONEYME secures key Mastercard status
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. MONEYME to become principal credit card issuer for Mastercard in Australia Non-bank lender to gain direct access to Mastercard's network, unlocking new opportunities MME partners with Episode Six to enhance credit card infrastructure and enable rollout of multiple card products Special Report: Non-bank lender MONEYME has become a principal credit card issuer for Mastercard in Australia, marking a major milestone in its strategic roadmap to accelerate growth in the credit card space. As a principal issuer, MONEYME (ASX:MME) will have direct access to Mastercard's global network, unlocking new opportunities, product development and distribution. The agreement supports MME's strategy to enhance customer experience, diversify its product offering and drive stronger economics as the business scales. In another strategic move, MME has partnered with global payment technology provider Episode Six to enhance its credit card infrastructure and enable the rollout of multiple card products. MME said integrating Episode Six's cloud-based card processing infrastructure into its proprietary technology would facilitate innovation, faster roll-out of new products, custom card designs and dynamic feature sets tailored to different customer segments. 'Defining moment' in growth journey Together, MME said the alliances would enable significant long-term growth, scalability, speed to market and future-ready customer experiences for its credit card offering. 'Becoming a Mastercard principal issuer in Australia and partnering with Episode Six marks a defining milestone in our growth journey,' MME managing director Clayton Howes said. The move enabled MME to expand into new distribution channels and deliver a differentiated credit card offering in a market 'where banks have under-innovated'. 'With strong everyday relevance and a direct customer connection, our credit card offering plans to fill a clear gap, just as Autopay did,' Howes said. 'We see it as a high-margin, high-engagement product that will power our future growth objectives.' Mastercard and Episode Six back MONEYME's push Mastercard division president Australasia Richard Wormald said the company was excited to welcome MME to the network as a principal issuer. 'With its unique technology capabilities, agile approach and challenger mindset, MONEYME is strongly placed to drive fresh thinking in Australia's consumer and retail credit card programs,' he said. Episode Six co-founder and CEO John Mitchell said the company was proud to support MME as the company took the significant step forward in owning more of the credit card value chain. 'By integrating our platform, MONEYME can configure and launch differentiated credit card products with greater speed, control and flexibility,' Mitchell said. 'Together, we're building a foundation that supports rapid innovation, scalable growth and future-ready infrastructure for the Australian market and beyond.' This article was developed in collaboration with MoneyMe, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as MONEYME secures Mastercard principal issuer status, partners with Episode Six
Hindustan Times
01-07-2025
- Climate
- Hindustan Times
Maharashtra likely to receive above-normal rainfall in July: IMD
Maharashtra is expected to witness widespread above-normal rainfall in July 2025, according to the India Meteorological Department's (IMD) Monthly Outlook for Rainfall and Temperature report released on June 30. Being part of the monsoon core zone, the state is likely to receive enhanced rainfall activity, with particular concern for the Krishna and Godavari river basins where extreme category rainfall is anticipated. The weather department released a colour-coded probabilistic rainfall map indicating that most parts of Maharashtra are likely to experience above-normal rainfall in July. (REPRESENTATIVE PIC) Addressing a virtual press conference on Monday, Mrutyunjay Mohapatra, director general of meteorology, IMD, said that special attention needs to be paid to the two river basins due to the elevated risk of flooding and related hazards. The heavy rainfall could significantly impact the surrounding regions, necessitating vigilant monitoring of river water levels, tributaries, and reservoirs. The forecast for July is part of IMD's probabilistic monthly rainfall outlook based on the Multi-Model Ensemble (MME) forecasting system. The advanced method utilises inputs from various coupled global climate models (CGCMs), including those developed under IMD's Monsoon Mission Climate Forecasting System (MMCFS). On climatic conditions influencing the monsoon activity, Mohapatra said that currently, neutral El Niño–Southern Oscillation (ENSO) conditions prevail over the equatorial Pacific Ocean and are expected to persist through the remainder of the monsoon season, according to MMCFS and other international climate models. The weather department released a colour-coded probabilistic rainfall map indicating that most parts of Maharashtra are likely to experience above-normal rainfall in July. Mohapatra emphasised need for continuous monitoring and proactive administrative response, especially as the month is expected to see an increase in the number of days with low-pressure systems (LPS), similar to the pattern observed in June that contributed significantly to rainfall over central India and along the western coast. 'In June alone, we recorded 13 LPS days, compared to the long-term average of just 2.8 days for the month,' said Mohapatra, adding that the trend of increased low-pressure activity is likely to continue into July. The IMD outlook of timely rains will benefit the agriculture sector and gives a warning signal for potential extreme weather events.
