8th Sep 2015 08:11
LONDON (Alliance News) - Escher Group Holdings PLC on Tuesday said it has licensed its eMoney platform to the Isle of Man Post Office under a subscription agreement.
The company, which provides software systems for the postal, retail and financial services industries, did not provide any financial details on the deal.
The eMoney platform will support the MiCard system the Isle of Man Post Office has launched for benefit payments, including pension collection and social security payments.
"This licensing agreement, which also includes a volume usage revenue, is a key development for us into the fintech space. As post offices look to provide additional services for their customers, we are ideally placed to provide our eMoney solution to support them," said Liam Church, Escher's chief executive.
Shares in Escher were untraded on Tuesday, having last traded at 189.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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