Payments services and technologies provider SafeCharge International Group Ltd (LON:SCH) has issued a Trading Update 2017, indicating that business activity ahead of the 2017 year-end has been strong. As a result the company’s financial performance for the full year is expected to be in line with market expectations.
SafeCharge stated that it continues to make considerable progress with its strategy of winning ‘Tier 1’ customers within both its traditional verticals of online Forex and gaming, and in new target verticals and markets:
- Traditional verticals: the Group is benefiting from increasing high quality revenue streams following recent Tier 1 client wins including Plus500 Ltd (LON:PLUS), 888, Bet365, PaddyPower and EuroBet.
- New verticals: the Group is now processing transactions for a growing number of online retail, travel and airline operators, including being the first to launch WeChat Pay in-store in the UK.
- Continued investment in infrastructure & processing technologies to support future growth.
The company also made a senior management appointment, with SafeCharge today announcing the appointment of Nicolas Vedrenne as Chief Business Development Officer effective from December 1, 2017. Nicolas joins SafeCharge from the Merchant Risk Council (MRC), where he was Managing Director for Europe.
Commenting on the appointment, David Avgi, CEO of SafeCharge, said:
I would like to welcome Nicolas to SafeCharge’s management team. He brings over 20 years’ experience in senior managerial and business development positions in the payments industry. We will continue to focus and invest further to build our sales teams to accelerate a successful entry into new target sectors and geographies, and I look forward to working closely with Nicolas to enhance this.
As far as outlook goes, the SafeCharge board stated that it is encouraged by the company’s strong performance during the second half of the year. The company will enter 2018 having expanded its Tier 1 customer base, with customers in new sectors, including travel and retail, and new markets, and with a strong pipeline which provides confidence for 2018 and beyond.