28th Feb 2020 13:47
(Alliance News) - Fintech company Wameja Ltd on Friday reported a widened pretax loss on restructuring costs.
In 2019, its pretax loss stretched to AUD10.6 million, about GBP5.4 million, from AUD9.6 million, on no revenue, like in the year prior.
The company reported restructuring costs of AUD1.4 million, against none last year.
Wameja also partnered with Mastercard Inc in the HomeSend payment hub programme.
In the fourth quarter of 2019, Wameja reported that HomeSend's average transaction value grew 6% quarter-on-quarter.
Wameja added: "HomeSend continued to show momentum in transaction numbers and gross value flows during the fourth quarter of 2019 and that positive trend has continued into 2020. In addition, eight new sending customers and Mastercard customers have gone live on the platform since the beginning of the fourth quarter to date, bringing the total to 36 live sending customers and Mastercard customers on the HomeSend platform.
"The quarter also saw bank transactions exceed 50% of global volumes for the first time."
Bank transactions at HomeSend came in at 47% in the previous quarter.
Wameja shares were 3.9% lower at 5.00 pence each in London on Friday morning.
By Eric Cunha; [email protected]
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