LONDON (Alliance News) - Mi-Pay Group PLC on Tuesday said trading in 2015 was in line with market expectations, with revenue increasing by 11% on the prior year.
The mobile payments company, which counts mobile network operators among its customers and enables pre-paid mobile devices to be topped up online, said revenue increased to GBP3.0 million in 2015 from GBP2.7 million in 2014.
"Mi-Pay has made solid progress during the year, delivering a significant increase in transactions with existing and new clients. We are also delighted to report that our in-house developed fraud-engine exceeded our expectations since its roll out in December 2014, delivering record low fraud rates during 2015," Seamus Keating, chairman, said in a statement.
Shares in Mi-Pay were untraded on Tuesday, having last traded at 26.00 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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