QNA secures credit and ID checks for DriveMyCar Rentals

Published at Nov 21, 2014, in Technology

Qanda Technology (ASX:QNA) has secured key agreements to strengthen the credit and ID registration process for its DriveMyCar Rentals peer-to-peer car rental service.

Credit and ID checks boosted for DriveMyCar Rentals

The first agreement is with Veda Group Limited (ASX: VED), the largest credit reference agency in Australia and New Zealand with a market cap of almost $2BN. Veda’s main credit checking product is called VedaScore, which summarises a person’s credit report into a number on a scale of zero to 1200.

Veda will provide real-time access to the credit reports of over 16.4 million Australians using the VedaScore product to QNA. This information will be used to enhance the reliability and security of DriveMyCar Rentals transactions.

The second reputation agreement QNA has signed is with Edentiti Pty Ltd, which focuses on identity verification with its main product D&BgreenID.

The product allows a person to use their key documents such as a driver’s license or passport to verify their identity. The product is used by large businesses in Australia including Australia Post, NAB and Optus.

D&BgreenID will now be made available to QNA’s DriveMyCar Rentals, allowing both renters and customers to more easily establish their identities online.

Interleasing ex-fleet cars now with DriveMyCar rentals

Earlier this year, QNA teamed up with McMillan Shakespeare Group, a $760M Australian car leasing company – to provide late model ex-fleet vehicles from its Interleasing division for DriveMyCar Rental’s car pool.

The first cars from Interleasing have been delivered to DriveMyCar Rentals and are being rented by customers. QNA says Interleasing is now working to make additional vehicles available.

QNA launches Share Purchase Plan

QNA has recently raised $750,000 through a share placement to institutional and sophisticated investors. 375 million fully paid ordinary shares were issued along with 187.5 million free attaching options at a price of $0.002 each.

This money will be used to accelerate the expansion and refinement of QNA’s three collaborative consumption businesses. QNA is now hoping to raise $250,000 from regular investors with a Share Purchase Plan.

QNA says the SPP is an opportunity for small shareholders to increase their holding in QNA by purchasing fully paid ordinary shares priced at $0.002 each up to the value of $15,000. The offer closes on the 21st of November.

Annual General Meeting to set up 2015

QNA’s Annual General Meeting will be held on the 28th of November in Sydney.

On the agenda will be a 10 for 1 share consolidation and a potential name change for the company.

QNA wants to change its name from “Qanda Technology” to “Collaborate Corporation,” saying the new name communicates its business focus much more clearly.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!