17th Nov 2016 12:56
LONDON (Alliance News) - MySQUAR Ltd said Thursday it has agreed to provide payment application development services to Singapore-based mobile payment platform Fastacash Pte Ltd.
MySQUAR will provide services for a period of 24 months in exchange for development fees. MySQUAR said it estimates annual revenue from the deal will exceed USD300,000, putting the company on track for its 2017 calendar year goal of over USD500,000 in mobile app development revenue.
Eric Schaer, chief executive officer of MySQUAR, is a director of Fastacash.
"This is a great opportunity for MySQUAR, both financially and technically. We are delighted that fastacash, an innovator in the social mobile payment sector, has such strong confidence in the ability of MySQUAR in payment application development. We have witnessed first hand the innovative and far-reaching abilities of fastacash; partnering with them more directly to develop a broader network with the clients of their services will be of great benefit to all the parties concerned," said Pham Dang Hun, MySQUAR chief financial officer.
Shares in MySQUAR were up 6.9% at 4.01 pence Thursday.
By Adam Clark; [email protected]
Copyright 2016 Alliance News Limited. All Rights Reserved.
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