Proxama signs three-year South American licensing deal

24th Feb 2014 08:49

AIM-listed Proxama said it had signed a three-year exclusive licence and distribution agreement with Latin and South American bank card maker VALID. Under the terms of the agreement, VALID will distribute Proxama's TapPoint suite of mobile wallet, mobile marketing and loyalty applications in Latin and South America. VALID's key customers in the region include leading banks and mobile network operators, Proxama said.Proxama said its technology compliments VALID's core business of bank card production, chips and cellular phone cards.Chief Executive Neil Garner said the two geographical regions were "a really exciting opportunity for us to further expand our global ambitions and VALID are the perfect partner; as a highly respected business across the entire region and with real ambition to become the market leader in mobile".Proxama shares were up 18.8% to 8.12p at 08.51 Monday. FP