Rewardle Holdings Limited has announced that it has entered into a binding Term Sheet with Pioneer Credit. Under the 3 year partnership, Rewardle will be paid over $500,000 in service fees with a substantial proportion timetabled for receipt within 6 months, providing short term cash flow as recurring Merchant Services revenue continues to build. In addition to the substantial service fees outlined above, the partnership supports development of new revenue streams for Rewardle with the strategic support of a successful innovator in the financial services sector.

Pioneer will also assist Rewardle by providing corporate support services (company secretarial, finance and legal services) in exchange for equity resulting in an operating cost reduction of approximately $200,000 per annum.