Proxama PLC (LON:PROX) shares jumped higher this morning after the AIM-listed mobile location data provider said it has secured a 12-month renewal on a contract to provide location technology services for a North American bank.
The renewal, which starts from July 2017, follows the success of an initial contract and will see Proxama continue to maintain a network of location services for 10,000 mobile touch points throughout the bank's national branch network in Canada.
The bank is using Proxama's mobile location technology to enable customers to directly download their mobile payment app.
John Kennedy, Proxama's chief executive said: "This contract is significant for Proxama as it demonstrates our ability to work with leading brands to support major location campaigns in different geographies.
"The renewal of this contract is not only a testament to our product and services, but also evidence of the continued demand for location-based mobile services across the globe."
In mid-morning trading, Proxama shares were up 13.3% at 0.04p.