Equals Group PLC Agreement with Mastercard (6835N)
September 25 2019 - 11:01AM
UK Regulatory
TIDMEQLS
RNS Number : 6835N
Equals Group PLC
25 September 2019
25 September 2019
Equals Group plc
("Equals" or "the Group" or "the Company")
Agreement with Mastercard
Equals Group PLC, the e-banking and international payments
group, is pleased to announce that it has entered into a new 5-year
agreement with Mastercard.
Under the deal, Mastercard will provide assistance to Equals to
grow its various card-based businesses through improved economic
terms based on transaction volumes and also assist in the process
of Equals becoming an issuer of all its cards.
Ian Strafford-Taylor, Equals Group CEO, commented: "We are
delighted to have signed a new long-term deal with Mastercard. We
have been a Mastercard-affiliated Company for many years but this
deal further cements our relationship and the closer ties and
improved economics will enable Equals to accelerate its growth
prospects in all areas of its business."
This announcement contains inside information.
For more information, please contact:
Equals Group plc +44 (0) 20 7778
Ian Strafford-Taylor, CEO 9308
Cenkos Securities plc - Nominated Advisor
and Joint Broker
Max Hartley (Nomad)
Callum Davidson +44 (0) 20 7397
Nick Searle - Sales 8900
Canaccord Genuity Limited - Joint Broker
Bobbie Hilliam
David Tyrrell +44 (0) 20 7523
Alex Aylen - Sales 8150
+44 (0) 7747 788
Yellow Jersey 221
+44 (0) 7796 325
Charles Goodwin 254
Joe Burgess +44 (0) 7983 557
Annabel Atkins 851
About Equals
Equals is a leading challenger brand in banking and payments
that disintermediates the incumbent banks with a superior user
experience and low-cost operating model. Our business enables
personal and business customers to make easy, low-cost payments
both domestically and in a broad range of currencies and across a
range of products all via one integrated system. The Equals
platform facilitates payments either direct to Bank Accounts or at
35 million merchants and over 1 million ATM's in a broad range of
countries globally via Mobile apps, the Internet, SMS, wire
transfer and MasterCard/VISA debit cards.
Equals provides money movement services to both personal and
business customers through four channels: Currency Cards, Physical
Currency, International Payments and Bank Accounts. The Currency
Card and Physical Currency offerings facilitate multiple overseas
payments at points of sale and ATM's whereas the International
Payments channel supports wire transfer foreign exchange
transactions direct to Bank Accounts. For Corporates, Equals has a
market-leading business-expenses solution based around its
corporate platform and prepaid card. This service can yield
significant savings on a Corporate's expenses and procurement both
domestically and overseas, through better controls and improved
transparency. The platform also streamlines the downstream
administrative processes and integrates into accounting software,
thus saving costs. Equals offers retail and business bank accounts
with all the functionality you would expect from a bank, namely
faster payments, BACs, direct debits, international payments and a
debit card.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRUVVSRKBAKUAR
(END) Dow Jones Newswires
September 25, 2019 11:01 ET (15:01 GMT)
Fairfx (LSE:FFX)
Historical Stock Chart
From Apr 2024 to May 2024
Fairfx (LSE:FFX)
Historical Stock Chart
From May 2023 to May 2024