The period 27 January 2021 to 25 February has seen further growth in the payments division, with GBP:USD FX pair transactions growing an additional 27% in volume compared to the period 23 December 2020 to 27 January 2021. The Company saw a significant improvement in transaction values in both Euro and GBP, up 219% and 143% respectively, due to the continuing rate of account openings.
The migration of existing customers using Prepaid Cards is complete, as is the final stage of the previously mentioned development of revamped prepaid services now ready for launch. The Merchant Services team has continued developing an active pipeline of clients going through approval which will see clients going live in the coming weeks, and has signed two agreements with international payment service providers who will also supply leads for the Merchant Services business in the UK and overseas.
LONDON TRADING UPDATES: Castings Hails Return To Pre-Covid Levels
Fri, 26th Feb 2021 17:57
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
Castings PLC - West Midlands-based iron caster - Notes monthly demand since November has been running ahead of pre-Covid levels but notes that while it has seen an improvement in demand production has been hampered by the need for more employees to self-isolate as UK Covid cases increased around the turn of the year. Assures however that this has now subsided and results for its financial year ending March 31 - which will be published on June 16 - are expected to be in line with market forecasts.
The period 27 November to 23 December 2020 has seen steady performance in the payments division, with GBP:USD FX pair transactions growing 43% in volume, however the company did see a slowdown in incoming EUR deposits of around 18%. Overall, the number of active multicurrency accounts grew by 5% over the past 25 days, and the Company expects the take up rate to increase significantly in the New Year supported by sales and marketing activities.
There has been a 10% increase in the numbers of cards in circulation, while average transaction values per card for the period was £219, down from the previous monthly average spend per card of £340. Spending levels per card have been volatile over 2H2020, which the Management Team believes is related to the fluctuating Covid lockdown measures. Overall however, the Payment Services business has proved resilient to the implications of Covid containment measures to date, and similarly, the proposed post-Brexit trade deal is not e