Mi-Pay Group PLC Contract Extension (6305W)
18 Aprile 2019 - 11:02AM
UK Regulatory
TIDMMPAY
RNS Number : 6305W
Mi-Pay Group PLC
18 April 2019
18 April 2019
Mi-Pay Group plc
("Mi-Pay", the "Group" or the "Company")
Contract Extension
Mi-Pay (AIM: MPAY), the leading provider of outsourced digital
transformation and mobile payment solutions, is pleased to announce
that it has agreed terms on a contract extension with its largest
Client (the "Client") for an incremental two-year period. This
amendment extends the contract term, which was previously due to
expire on 30 June 2020, to 31 March 2022. All other material terms
of the contract have remained the same. The Client represented
approximately 31% of the Company's annual revenue in 2018
(approximately GBP1.0m). This contract extension follows the
successful integration with the Client's new infrastructure in
August 2018, securing Mi-Pay as their core digital payment partner.
The Board of Mi-Pay expects to deliver continued growth within this
Client as its customers naturally migrate to digital payment
channels.
Michael Dickerson, Chairman of Mi-Pay Group plc commented:
"Following the successful integration into our Client's new
infrastructure and the on-boarding of their recently acquired
pre-pay customers we are delighted to be recognised as their long
term, omni-channel digital solutions partner. This demonstrates our
ability to drive recognised value into the digital propositions of
European Mobile Network Operators over the longer term."
For further information please contact:
Mi-Pay Group plc Allenby Capital Limited IFC Advisory
Tel: +44 207 112 Tel +44 203 328 5656 Tel: +44 203 053 8671
2129
Michael Dickerson, James Reeve Graham Herring
Chairman John Beale, Asha Chotai Tim Metcalfe
CEO Heather Armstrong
About Mi-Pay Group
Founded in 2003, Mi-Pay Group plc delivers fully outsourced
online and related payment and fraud management solutions to
digital ecommerce clients, primarily in the mobile and digital
content sector. Its product offering provides the infrastructure to
enable pre-paid mobile devices to be topped up via a variety of
channels such as websites, mobile applications and social media
applications and customers include Mobile Network Operators (MNOs)
and Mobile Virtual Network Operators (MNVOs), additionally managing
and indemnifying the data security and payment fraud risks. Mi-Pay
sells, integrates and operates its products and solutions on a
global basis. For further information, please visit www.Mi-Pay.com
or contact details as shown above.
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END
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