The government mandated "PAYDAY SUPER" commencement date (01/07/2026) looming closer is creating compliance issues for all superannuation funds, and their administrators, technical partners and employers to be equiped to handle super contributions at the same time employees are paid.
It's been stated that payday super will possibly at least double Wrkr's revenue or even possibly triple it... going of $7-$8 per employee/member with a total number of employee/members accumulating to approx. 7-8 million in the coming years, the revenue looks very appealing. Their closest competitor, SuperChoice, was recently acquired for an undisclosed sum, but it was reported that they were boasting an asking price around $600 million at one stage over the sale period.
Wrkr is already payday super compliant and has been for sometime with one of it's major clients being ART (Australian Retirement Trust) along with others.
The share price in recent months had a reasonable re-rate (approx. 3c-5c) after a major capital raise to fund the necessary work required to complete adoption of services for their major superannuation administration partner's clients.
Major MUFG clients are:
AUSSIE SUPER
REST
HOSTPLUS
CBUS
HESTA??
Wrkr's integration into MUFG's superannuation platform, for the purpose of supplying services to MUFG's clients, has all been completed and Wrkr has now been noted as a technology partner alongside majors like Microsoft and similar is quite impressive, on their global website.
A pilot for superfunds to fine-tune details and features has been ongoing with the "expectation" of a roll out commencing very soon to MUFG superfund clients. Hoping for all MUFG superfund clients to take on the Wrkr services, with the big one being AUSSIE SUPER. Should this occur, Wrkr's fate would be then sealed and another re-rate in share price would also be expected, IMO.
It appears and is expected that REST is moving forward, leading the rollout, IMO.
A very large single trade went through last Friday which begs the question... why sell, but the over $300k trade was snapped up immediately!
