Equals Gp Regulatory News (EQLS)

28 July 2016

FairFX Group plc

("FairFX" or "the Group" or "the Company")

FairFX to be Exclusive FX Provider for Leicester City F.C

FairFX, the low cost multi currency payments service, is pleased to announce it has signed a two-year agreement with Leicester City Football Club (LCFC) to be their exclusive FX provider and an Official Partner of the Club.

The new relationship with the Premier League Champions will see FairFX service all of LCFC's foreign exchange requirements, including money conversion for player transfers. The magnitude of transfer values in the Premier League represents a significant volume of new potential business for the Company over the duration of the agreement. In return, LCFC will benefit from FairFX's highly competitive rates thereby saving large sums on their transfer activity.

Just as importantly, as an Official Partner to LCFC, FairFX will benefit from direct exposure to the club's fans as well as introductions to the corporate network of Leicester City. This partnership will therefore enable FairFX to add more users of its products, further bolstering the Company's existing strategic marketing campaign and aligning with a history of supporting sport in the UK following its sponsorship of Sky Formula 1 coverage in 2015.

FairFX CEO, Ian Strafford-Taylor, commented: 

"We are very excited to be partnering with Leicester City. There are strong synergies in attitude between us both, with the Club having taken on the establishment in the Premier League, and winning, with FairFX continuing to do the same in the Foreign Exchange industry.

"While the agreement opens up new revenue streams via player transfers, we are also hugely excited by the prospect of offering our highly competitive and technologically innovative services to potential new customers across the LCFC fan-base and corporate network."

LCFC Commercial Director, Ian Flanagan, commented:

"We are delighted to welcome FairFX to our family of Club partners. FairFX was the obvious choice of FX provider to support Leicester City through the next stage of our phenomenal international growth. As a challenger in their own industry, they understand the level of support we require to add value to our processes and we look forward to a long and successful partnership together."

- ENDS -

About FairFX

FairFX is a leading online international payment services provider, incorporated in the UK in 2005. The Company has developed a cloud-based peer-to-peer payments platform that enables personal and business customers to make easy, low-cost multi-currency payments in a broad range of currencies and across a range of FX products all via one integrated system. The FairFX platform facilitates payments either direct to Bank Accounts or at over 35 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, wire transfer and MasterCard/VISA debit cards.

FairFX operates within the rapidly growing online multi-currency payments market and provides transactional services to both personal and business customers through four channels being Currency Cards, Physical Currency, FairPay and Dealing. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the FairPay and Dealing products support wire transfer foreign exchange transactions direct to Bank Accounts.

For Corporates, FairFX has a market-leading business-expenses solution based around its corporate prepaid card allied to a platform allowing the Corporate to better control expenses and improve transparency whilst removing administrative burdens from staff.

In addition, FairFX has entered into a number of "white-label" arrangements for the use of its P2P matching platform. Customers include easyjet and ThinkMoney. FairFX has also partnered with Concur Technologies, Inc. a leading provider of integrated travel and expense management solutions with over 25 million users globally. Such relationships provide strong support for FairFX's customer acquisition strategy.