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03 Feb 2021 | 11:26

Wameja upbeat on performance of Mastercard joint ventrue

(Sharecast News) - Wameja updated the market on the performance of its HomeSend global payments joint venture with Mastercard on Wednesday, reporting a 6% quarter-on-quarter increase in the average transaction value over the third quarter. The AIM-traded firm said gross value flows across the platform were up 7.1% quarter-on-quarter for the period ended 31 December, while payments terminating to a bank account on the HomeSent network made up 62% of gross value flows, up from 59% in the third quarter.

It said it covered 82 "key destination markets" at period end, up from 74 destinations three months prior.

"The fourth quarter saw a recovery in average transaction value consistent with the increase in bank transfers as a percentage of gross value glows over the period," the Wameja board said in its statement.

"The quarter also saw continued improvement in gross value flows across the HomeSend platform.

"The period saw key destination markets increase by approximately 10% as HomeSend completed integrations to reach a number of new markets during the quarter, principally through the Mastercard network."

At 0948 GMT, shares in Wameja were up 0.88% at 6.86p.
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