MySQUAR PLC (LON:MYSQ) is set to earn US$300,000 for payment apps development work for Singapore-based group fastacash.
The Myanmar-based social media group will work on fastacash’s apps for 24 months in return for development fees.
Revenues from has the master services agreement (MSA) should exceed US$300,000, MySQUAR said, and put it track to hit its target of generating revenue of US$500,000 from mobile application development revenue in 2017.
Pham Dang Hung, MySQUAR's chief financial officer, said it was a great opportunity both financially and technically.
Fastacash's General Manager, Mark Carter, said: "This deal provides fastacash with a world class application development capability to service our increasing number of client engagements, not just in South East Asia but globally. “
Fastacash's network of mobile payment service providers around the world includes Al Fardan Exchange, XpressMoney, Techcombank and Oxigen.
Eric Schaer, MySQUAR's chief executive, is a director of fastacash.