Spenda’s Buy-Now, Pay-Later functionality has successfully launched into Whola’s marketplace – enabled by partnership with Mastercard

Key Highlights 

  • Whola and Cirralto have entered into a standard rolling contract with no fixed term to deliver services to Whola’s marketplace buyers.
  • Successful roll-out of the Spenda Buy-Now-Pay-Later widget into Whola’s online marketplace, utilising Mastercard Track Business Payment Services.
  • The first seven days of the initial rollout period highlighted a 60% take-up of the Pay-Later services by Whola’s marketplace customers.
  • Whola has 3,000 buyers in its network, this is expected to create a payment and lend flow of $5,000,000 per month over a 12 month period assuming a 30% adoption rate. 
  • Cirralto receives a minimum gross fee of 2% from all transactions passed through the Whola network.
  • Based on a 30% adoption rate Cirralto will receive minimum gross revenues of approximately $1.2m per annum from the Whola network.


Cirralto is pleased to announce the release of its Buy-Now-Pay-Later (BNPL) and related payment services to the Whola platform and the continuing commercial execution of its marketplace node-spoke strategy with the launch of services to the Whola marketplace.

Following an extended development and BETA program, the Whola solution has been commissioned and is now processing a growing volume of transactions and payment flow. The parties have entered into a standard rolling contract with no fixed term to deliver the Spenda BNPL service on the basis of 30% adoption across Whola’s marketplace user base over a 12-month period. 

Although, there are no guarantees of adoption rate, at present adoption rates from a 10% sample of the base determined from the first week of initial use suggests a 60% adoption and utilisation rate.  Cirralto considers the forecasted revenue of $1.2 million per year expected to be generated under this agreement to be material at this point in time.

Cirralto is investing in onboarding and regulatory technologies to serve Whola and similar projects to streamline compliance and shorten approval times. 

The delivery of the Whola solution also incorporates the commercial scaling of new payment processing and data collaboration with Mastercard and its Track™ Business Payment Service, a partnership designed to offer increased financial control, efficiency and security for buyers and suppliers.

Cirralto, CEO Adrian Floate said, “Whola has established a strong presence in the fashion wholesale trade and we are thrilled to be working with Alice Fitch and her team. The provision of extended credit to Whola’s customers will reduce each store’s stock risk, lower the cost of capital required to run their businesses and drive their supply chain.  We see this partnership as a win-win for Whola and its customers and suppliers.“

Whola, Managing Director Alice Fitch said, “BNPL really is going to be a game-changer for Australian retailers. After 2 years of challenging conditions, Whola’s customers will now be in a position to ready themselves for a stellar Christmas trade. We’re thrilled to bring BNPL to market in partnership with Cirralto.”

The launch of Cirralto’s working capital and payment solutions over the Mastercard platform is a milestone achievement made possible by the continued relationship between the two organisations. 

Mastercard’s Track Business Payment Service is an innovative, open-loop network that delivers value to both buyers and suppliers by simplifying and automating the set-up and execution of business payments using multiple payment rails and enhancing the exchange of payments-related data. In turn, it enables buyers and suppliers to utilise the best available option to pay and be paid.

Commenting on the program, Adrian Floate, CEO of Cirralto, said “Since we began working with Mastercard the synergies between our businesses and the shared vision we have for improving business payments has been obvious. Implementing Mastercard Track Business Payment Service into our payment services means we can offer our customers additional security and enterprise integration.”

Asha Cugati, Head of Government and Business, Account Management, Australia at Mastercard, added “As local organisations look to the future following what has been a challenging year, optimising working capital and fostering business growth has never been more important. Mastercard is excited to build on its partnership with Cirralto, leveraging Mastercard’s Track platform to increase the velocity with which payments and data pass between buyers and suppliers and making it easier for businesses to do business.”

Media Contact
Lauren Jones
Head of Communications at Cirralto
E: lauren.jones@spenda.co
M: 0451 059 961

About Cirralto

Cirralto Limited (ASX:CRO) is a feature-based payment company capable of owning transactions from any customer up and down the value chain. Through their core product, Spenda, Cirralto delivers a fully integrated digital payment and business software solution that enables businesses to transform with fast, error-free digital efficiency.

Cirralto supplies industries with a broad range of B2B payment services, digital trading software and integrated solutions. Our goal is to convert EFT payments to card payments utilising the BPSP/BPA engagement coupled with our payments collaboration framework. Our competitive advantages deliver customers end-to-end e-invoicing integration, rapid ordering, digital trust and automated reconciliation.


About Spenda

Spenda offers one connected digital platform that equips businesses with smart software applications, flexible B2B payment and lending solutions, and integration services. Ultimately, by improving how businesses trade and get paid, Spenda’s solution enables businesses to transform with fast, error-free digital efficiency and aims to boost cash flow across the entire supply chain.

Spenda is a core product of Cirralto Limited, an ASX listed company with over 20 years’ experience in delivering B2B payment services, digital trading software and integrated solutions. For more information, please visit www.spenda.co


About Whola

Founded in 2019, Whola Pty Ltd (Whola) is a curated wholesale fashion marketplace serving more than 3,000 retailer customers and connecting them to the best Australian brands in one place. Whola has close to a hundred of Australia’s best fast-to-market labels from a core group of manufacturers and suppliers.


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