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Credit Intelligence (ASX:CI1) - Executive Chairman, Jimmie Wong - The Market Herald
Executive Chairman, Jimmie Wong
Source: Caktus Productions [Twitter]
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  • Credit Intelligence’s (CI1) YOZO business has signed up solar energy equipment supplier ShineHub as a merchant client
  • The company hopes to offer ShineHub disruptive and competitive payment models, in order to increase solar uptake
  • This latest development has begun Credit Intelligence’s expansion of its buy now, pay later (BNPL) services to the green energy market
  • In the meantime, the company’s YOZO business is continuing to onboard more merchants as it expands into various sectors
  • Credit Intelligence is in the grey and trading at 2.9 cents per share

Credit Intelligence’s (CI1) YOZO business has signed up solar energy equipment supplier ShineHub as a merchant client.

As a company with over 15 years’ experience in the solar industry, ShineHub has made significant changes to Australia’s residential solar market. While the company is based in New South Wales, ShineHub aims to eventually become the number one battery provider in South Australia.

Notably, ShineHub has created major virtual power plants (VPP), in partnership with industry players like Ausgrid and the Australian Energy Market Operator (AEMO). Through an app, users of the company’s virtual power plants can make extra income by allowing the grid to draw power from their household battery when required. 

Credit Intelligence’s YOZO Finance business is a buy now, pay later (BNPL) fintech platform, which has a focus on small to medium-sized enterprises. Having signed up ShineHub, YOZO intends to use its AI-driven intuitive credit engine in order to offer disruptive payment models to ShineHub. 

The provision of YOZO’s new BNPL offering for small to medium-sized enterprises will provide competitive pricing that will hopefully contribute to increasing solar uptake. This latest development has begun Credit Intelligence’s expansion of its BNPL services into the green and renewable energy market. 

In the meantime, the company’s YOZO business is looking for further opportunities to provide support to small to medium-sized enterprises with its BNPL services. Credit Intelligence says YOZO is successfully onboarding more merchants like ShineHub as it continues its expansion into other sectors.

Credit Intelligence is in the grey, trading at 2.9 cents per share at 11:16 am AEST.

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