The Board is delighted to announce that Market Access Ltd, through its “Another” B2C brand, has signed a contract to deliver a pre-paid card programme with an innovative technology partner based in the UK.
The card programme is for an initial 100,000 prepaid cards, with 5,000 cards due immediately. It is expected that 25,000 cards will be activated within two months of launch and 100,000 within the first nine months. Each card is expected to produce revenues to the Group of between £3 and £5 per month.
Since the last trading update announced on 29 May 2019, the Group has continued to make solid progress in its primary business areas.
Within the Payment division, the two key areas of focus have been the integration of Another (please refer to the announcement of 5 July 2019 for further details) and the roll-out of the much-improved payment card processing service to our clients, including over a dozen new clients expected to be actively transacting business by the end of July through the integration of the “Another-Pay” gateway . This is now generating material levels of card processing commissions for the Group after a trial and integration period with several key clients.
The Lottery division has seen continued progress with the Unite2Win lottery on behalf of the Unite the Union Benevolent Fund, resulting in total lines played increasing by approximately one-third during the last year. These increased levels of growth, if maintained, will see the Lottery division making a positive contribution to the Group during the second half of the year.
Lord Razzall, Chairman, commented, “Our new client is an exciting and novel business with strong ecological values and a sound offer, for whom prepaid cards are expected to play a significant role in their success. Our recent acquisition of “Another”, combined with the existing Market Access infrastructure, has meant we are able to immediately service their requirements. The increase in payment card processing business, both from existing Market Access efforts and through the acquisition of Another are encouraging for the second half of the year.”
Full report can be found here