LONDON (Alliance News) - Digital media and technology firm Milestone Group PLC on Monday said its Nexstar joint venture has signed a deal with an unnamed money transfer and pre-paid card company.
Under the deal, Nexstar will provide the client with its virtual banking platform, pre-paid cards and the technology to manage these programmes.
Nexstar will get an undisclosed monthly licensing fee for the platform and a percentage of activity value based on loading, transfers, withdrawals and transactions using the cards.
"This contract adds to a growing number of positive developments taking place within the company - I look forward to updating on progress with these contracts and further deals as the year goes on," said Deborah White, Milestone's chief executive.
Milestone shares were down 1.1% to 1.21 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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