MPAY.L Share News (MPAY)

LONDON (Alliance News) - Digital payments company Mi-Pay Group PLC said on Thursday it has agreed terms on a two-year extension on its contract with its largest client.

The contract term has been extended to expire on March 31, 2022, from June 2020.

In 2018, the unnamed client represented 31% of Mi-Pay's revenue, which stood at GBP3.1 million. In August 2018, Mi-Pay was appointed as the client's core digital payment partner.

"Following the successful integration into our client's new infrastructure and the on-boarding of their recently acquired pre-pay customers we are delighted to be recognised as their long term, omni-channel digital solutions partner. This demonstrates our ability to drive recognised value into the digital propositions of European Mobile Network Operators over the longer term," said Chair Michael Dickerson.

Shares in Mi-Pay were up 9.1% at 12.00 pence each on Thursday.