31st Dec 2013 08:25
LONDON (Alliance News) - Monitise PLC Tuesday said that it has seen continued trading momentum across the business, boosted by a number of contract renewals and new business wins in both Europe and the US.
The mobile banking and payments technology company reiterated expectations for around a 50% rise in revenue, and a gross margin above 70% for the current financial year ending June 2014.
"Demand for Mobile Money services continues to grow rapidly and we are seeing increasing interest in our technology and services from leading players in the Americas, Europe and Asia," Chief Executive Alastair Lukies said in a statement.
Monitise said that it has entered into a five-year mobile money partnership, worth GBP7 million, with a UK bank and financial services firm to design, build, and manage new digital banking, payments and shopping services.
It said that it has also renewed and extended a commercial contract with a large financial institution.
Monitise didn't name either customer.
In Europe, Monitise said that it is finalising details on a contract to provide multi-language mobile Point-of-Sale services for a Nordic bank's small-business and merchant customers.
Monitise said that it is seeing increasing interest in its payments and commerce technology in Asia, having recently launched its first Chinese-language mobile money platform, developed in partnership with mobile network operator PCCW-HKT, Bank of China (Hong Kong) and JETCO, an ATM network provider in Hong Kong.
Earlier this month, Monitise took part in UK Prime Minister David Cameron's trade mission to China.
Shares in Monitise were trading 1.5% higher in early trading Tuesday, at 69.56 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2013 Alliance News Limited. All Rights Reserved.
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