The mobile payments specialist Bango (LON:BGO) said 2016 is shaping up to be another good year as it is sitting on a pipeline of opportunities that is “significantly larger” than it was a year ago.
The metric it uses to judge performance is end user spend via the its platform. The exit rate for 2015 was £67mln, which represented year on year growth of over 100%.
That said its platform fees for 2015 are expected to be a comparatively modest £500,000, down £200,000 from a year earlier.
Bango said this decline was the direct result of replacing upfront fees with a recurring payment. The company did this to remove commercial barriers to using its system.
The decline in platform fees may help explain the early fall in the share price, which was down 5% at 92p.
Going into the new year Bango said it had a “healthy number” of activations scheduled for launch in 2016 and the pipeline of further opportunities is “significantly larger” than it was entering 2015.