SafeCharge (AIM:SCH), the global provider of payments services, technologies and risk management solutions for online and mobile businesses, has just made a trading statement and strategic update.
Trading ahead of the 2016 year end remains strong, as a result SafeCharge’s financial performance for the full year is expected to be in line with market expectations.
Strategic update
The Company is making considerable progress in its strategy to win Tier 1 customers within both traditional verticals and in new target verticals and markets:
- Traditional verticals: the Group is now benefiting from increasing high quality revenues following recent Tier 1 client wins including PaddyPower Betfair, Sun Bingo and Sisal.
- New verticals: in retail, the Group is now processing and acquiring European card transactions for Nayax, a leading solutions provider for the unattended machine industry, including vending machines, with over 100,000 terminals worldwide. In Travel / Airlines, the rollout into global territories for ELAL remains on track.
- New markets: SafeCharge is now processing for customers in new European markets including Italy, Romania, Portugal and Poland.
- SafeCharge acquiring: continues to perform strongly and enjoy significant volume growth
- Corporate development: the Group has recently strengthened its Board and has also established a new office in Singapore, incorporating a local subsidiary and recruiting local management.
Outlook
The Group shared that will enter 2017 having expanded its Tier 1 customer base, with customers in new sectors, including travel; retail and unattended point of sale, new markets and with a strong pipeline which provides confidence for 2017 and beyond.