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MySQUAR to work on mobile payments apps for Singapore Group

Published: 15:06 17 Nov 2016 GMT

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MySQUAR will work the apps for 24 months

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.

 

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