Visa offering fuels SafeCharge growth

(ShareCast News) - Payment technology firm SafeCharge reported on a year of growth on Thursday, with revenue and earnings up significantly during the 2015 calendar year.The AIM-traded company reported revenues of $99.6m in 2015, up 30% from 2014. Gross profit was also up 30%, to $57.7m, with adjusted EBITDA climbing 26% to $31.1m. Cash flows from operations totalled $29.3m during the year, up 41%.SafeCharge launched its Visa acquiring services during 2015, complementing its MasterCard services. It also saw a significant advance in its core business processing transaction value to $6.9bn, from $5.7bn in 2014.The company also launched a Pay.com-branded MasterCard prepaid card, and won four awards including 'Innovation in Payments' and 'Overall Payments Company' at the eGaming Review Awards."The year of 2015 was another period of strong financial performance and continued growth," said CEO David Avgi."We have continued to innovate, develop and deliver our payment products and technologies, enabling us to deepen our relationships and win new business with large scale customers. With continued strong momentum and an excellent pipeline of new business, we look forward to the rest of the year with confidence and optimism," he added.SafeCharge said trading in the current year was encouraging, with a strong sales pipeline and significant customers expected to go live.