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.
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.
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.