26 October 2016
MILESTONE GROUP PLC
("Milestone" or the "Company")
Extension of Independent Sales Organisation Agreement
Milestone, (AIM: MSG) the AIM quoted provider of digital media and technology solutions announces the extension of an agreement between its Nexstar joint venture partner Black Cactus Holdings Pty ltd ("Black Cactus") and Benefits on Madison, Inc ("Madison"), a leading Fintec Solutions Group based in Toronto Canada.
The extension of an existing agreement between Black Cactus and Madison now includes Nexstar (as an affiliated partner of Black Cactus). Under the agreement, Madison has appointed Nexstar as an Independent Sales Organisation (ISO) allowing Nexstar to issue prepaid and debit cards, promote, market and solicit orders for Benefit on Madison's extensive range of stored-value prepaid debit card services to resellers and/or to customers and cardholders directly. As an ISO for a major global payments corporation, the prepaid cards will be accepted at over 3 million outlets globally with Nexstar earning a percentage of all transactions from the use of the prepaid and debit cards.
The addition of these services builds on the comprehensive suite of products already provided by Black Cactus, positioning Nexstar able to pursue a broader range of clients and solutions targeting un-banked or under-banked customers, concierge programs and insurance products, in addition to their trading, exchange and blockchain technology platforms.
Nexstar is already in discussion about these new services with several high value clients and aims to sign its first new contract before the end of 2016, for launch in Q1 2017.
Deborah White, CEO of Milestone commented: " The additional capability provided by this agreement in terms of access to products and range of services is significant. We will be actively promoting these services through our existing Passion Project partner networks and as already mentioned we have a pipeline of interest already in discussion".
Nexstar, a joint venture entity between Milestone and Black Cactus, is a technology provider delivering payment solutions and digital entertainment. The Nexstar platform is designed to meet the needs of Milestone's clients, offering its audience access to the most current streaming content for music, movies and tv, as well as transactional (downloadable) content from a number of global providers.
About Benefits on Madison, Inc
Madison is a leading Fintec Solutions Group based in Toronto Canada, with offices throughout Latin America, the US and Canada. Madison specializes in payments, marketing, technology and insurance, and brings value, stability and strength together, all in one turn-key solution.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
|Milestone Group PLC|
|Deborah White, Chief Executive||Tel: 0207 929 7826|
|Cairn Financial Advisers LLP, Nominated Adviser|
|Liam Murray/Jo Turner||Tel: 0207 213 0880|
|Hybridan LLP, Broker|
|Claire Louise Noyce||Tel: 0203 764 2341|
|Walbrook PR Limited, PR|
|Gary Middleton/Paul Cornelius/Paul Whittington||Tel: 0207 933 8780|