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Mi-Pay revenue boosted by fraud management launch

Wed, 24th Apr 2019 09:28

(Sharecast News) - Mi-Pay Group's shares edged upwards on Wednesday as the company reported a reduction in annual loss as revenue crept up following the launch of its new fraud management service.The online payment and fraud management specialist recorded a loss before tax of £0.2m for 2018, a 64% improvement compared to the year before, as revenue increased by 9% to £3.3m and administrative expenses decreased by 11% to £2.3m.Top line growth was assisted by the creation of Mi-Pay's fraud management services, which contributed revenues of £0.3m after the signing of a 12 month contract to deliver indemnified fraud services on mobile top up and digital content services in mainland Europe.However, revenue from Transaction Services slipped to £2.6m from £2.7m due to the impact of reduced pricing with the AIM traded company's largest client, while percentage revenue per transaction declined to 2.5% from 2.8%.Revenue from Mi-Pay's final segment, the Professional Services unit, remained flat at £0.4m despite percentage revenue per transaction declining to 12% from 13%.Michael Dickerson, executive chairman of Mi-Pay, said: "2018 has been a year of strong progress for Mi-Pay in which key milestones have been achieved. We processed over £100m in fully managed payment transactions for the first time and successfully delivered indemnified payment fraud management services driving £0.3m of profitable new revenue."Cash and cash equivalents stood at £3.5m at the end of the year, up from £2.9m at the same point the year before."The market we operate in continues to change as new European payment compliance directives impact solution providers and our clients consolidate their offerings and vendors, especially as they increasingly focus on the transition to digital solutions, our core offering. This offers both opportunities and risks, however our knowledge, in house solutions and efficiencies in digital e-commerce provides a strong platform to build from," said Dickerson.Mi-Pay Group's shares were up 0.85% at 11.85p at 1149 BST.

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21 Feb 2019 13:05

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30 Jan 2019 10:42

Mi-Pay Expects 2018 Loss To Narrow On Higher Revenue, Lower Costs

LONDON (Alliance News) - Mi-Pay Group PLC on Wednesday said it expects to report a narrowed loss in 2018, helped by strong revenue growth and reduced administrative expenses.In addition, as

30 Jan 2019 09:16

Mi-Pay Group's loss narrows after revenue growth and cost cutting

(Sharecast News) - Mi-Pay Group reported revenue growth and a narrowed operating loss on Wednesday after the company increased the value of processed payment transactions and won new revenues from fraud management.

25 Sep 2018 10:37

Mi-Pay Interim Loss Narrows On Higher Revenue And Lower Expenses

LONDON (Alliance News) - Mi-Pay Group PLC on Tuesday said its loss narrowed in the first half of 2018, helped by reduced expenses and revenue growth.The payment fraud management services to

16 Aug 2018 15:42

Octopus Investments Cuts Mi-Pay Stake To 6.07% (ALLISS)

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30 Jan 2017 08:33

Mi-Pay Group in line with expectations, transactions processed increases

(ShareCast News) - Mobile payment provider Mi-Pay Group expects results for the calendar year 2016 to be in line with expectations with a "significant" increase in the value of transactions processed. The AIM-listed company expects revenue to rise slightly to £3.3m for 2016, from £3.0m the previous

14 Sep 2016 15:03

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3 Aug 2016 08:13

Mi-Pay Says Transaction Values And Revenue Grow In First Half

13 Apr 2016 13:59

Mi-Pay narrows FY losses

(ShareCast News) - Mobile payments group Mi-Pay managed to narrow full year pre-tax losses to £1.4m from £4.3m on the back of a small jump in revenues and hefty cut in admin expenses. Revenues rose to £3m from £2.7m while administrative expenses fell to £3.1m from £5.4m. Income from transaction ser

13 Apr 2016 09:00

Mobile Payments Firm Mi-Pay Eyes South East Asia For Long-Term Growth

26 Jan 2016 10:49

Mi-Pay Says Revenue Rose In 2015, Trading In Line With Market View

16 Sep 2015 13:35

Mi-Pay restructure leads to reduced operating loss

(ShareCast News) - Despite a restructure and an increase in investment, Mi-Pay Group has increased their revenue marginally from £1.4m to £1.5m for the six months to 30 June. However the mobile payment solutions provider's operating loss has decreased from £3.0m last year to £1.1m. A 38% reduction

16 Sep 2015 10:42

Mi-Pay First-Half Pretax Loss Narrows On Improved Margins

22 Jul 2015 10:54

Mi-Pay Group reports strong first-half driven by positive payment rates and low fraud levels

(ShareCast News) - Mobile payment solutions group Mi-Pay said its first-half of the year was encouraging with trading in line with expectations. Revenues rose 10% to £1.5m for the six months ended 30 June 2015 and, excluding the impact of a client lost in 2013, revenues jumped 35%. Furthermore, the

22 Jul 2015 09:26

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