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News Centre Interim results for six months ended 30 September 2013

MoneySwap Plc

("MoneySwap", the “Company” or the “Group”) 

19 December 2013 

 

 Interim results for six months ended 30 September 2013 

 

MoneySwap (AIM: SWAP), the provider of payment solutions to both online and point of sale merchants licenced by China UnionPay (“CUP” also known as “UnionPay”) for the UK, is pleased to announce the Company's results for the six months ended 30 September 2013.   

 

Highlights from Period 

·      Launch of UnionPay payment solutions in the UK:

o   Point of sale and online services enabling UK merchants to accept payments from UnionPay, China's largest bank card payment processor

o   UnionPay MoneyExpress service enabling funds to be sent from outside China directly to UnionPay debit and credit cardholders within China

·      Targeting agreements with sales partners with established UK merchant customer bases as well as directly with several large merchant groups in the UK – discussions on-going

·      Six-month revenues totalled US$270,000 (2012: US$14,000) – the majority generated through MoneySwap’s CUP payment services from legacy relationships with merchants in territories outside the UK

·      Loss for period of US$2.7 million (2012: US$4.1 million – which included exceptional loss of US$1.7 million)

  

Richard Proksa, Chief Executive Officer of MoneySwap, said: 

“With the recent simplification of applying for a visa for Chinese visitors to enter the UK, we expect spending to increase beyond the £302 million spent by Chinese tourists during 2012. The launch of our UnionPay point of sale and online gateways along with the appointment of our UK sales team, puts MoneySwap in a strong position to tap into the growing need for UK merchants to be able to service the expected growth in the number of Chinese visitors to the UK, for whom the UnionPay card is the bankcard of choice. “ 

 

- Ends- 

 

For further information, please contact: 

MoneySwap Plc

Allenby Capital Limited

St Brides Media and Finance Ltd

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Frank Buhagiar

Susie Geliher

 

+852 3919 9888  

+44 20 3328 5656

+44 20 7236 1177

 

 About MoneySwap (www.moneyswap.com)

MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK.  In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China.  The Group also offers prepaid card services working with partners such as Corner Bank, Switzerland and Visa and offers an online peer to peer platform for currency exchange and payments.  The Company’s shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.