TIDMWJA

RNS Number : 7438J

Wameja Limited

21 August 2019

Wameja Limited ("Wameja" or the "Company")

HomeSend KPI Update

21 August 2019

Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner with Mastercard in the HomeSend global payment hub, is pleased to provide the following update on the performance of HomeSend to 30 June 2019.

 
KPI                                         Previous Quarter          Q2 2019 
                                                 Q1 2019 
Gross Value Flows across HomeSend             20% increase        c.28% increase 
 platform                                   over prior quarter   over prior quarter 
                                           -------------------  ------------------- 
Average Transaction Value                     13% increase        2% decline over 
                                            over prior quarter     prior quarter 
                                           -------------------  ------------------- 
Payments terminating to a bank account 
 on the HomeSend network as a percentage 
 of Gross Value Flows                              48%                  44% 
                                           -------------------  ------------------- 
Key Destination Markets Covered                    64                   64 
                                           -------------------  -------------------

HomeSend continued to make progress in Q2 2019, focusing on extending capabilities and reach to service both historical and new use cases within the international payments market. Q2 2019 results suggest a growth of approximately 28% in the Gross Value Flows from Q1 2019. There was a minor decline in the Average Transaction Value and in payments terminating to a bank account as a percentage of Gross Value Flows during the quarter due to a spike in volume on a few of HomeSend's traditional MTO corridors.

HomeSend's offering of 64 destination markets remained unchanged in Q2 with a significant number of implementations in progress on both sending and receiving opportunities.

To provide liquidity for anticipated increase in gross value flows, HomeSend has requested a further drawdown under the loan facility announced on 19 May 2019 of EUR5,000,000, in aggregate, from Wameja and Mastercard. This is approximately a 70% increase to the funds currently utilised by HomeSend for funding the pre-payment timing gaps in its settlement model.

For further information, please contact:

 
 Wameja Limited                                       www.wameja.com 
 John Conoley, Executive Chairman                     investors@wameja.com 
  Tom Rowe, Company Secretary 
  Alison Cheek, VP Corporate Communications 
 finnCap Limited (Nomad and Broker)                   www.finnCap.com 
  Corporate Finance: Jonny Franklin-Adams /            T: +44 (0) 20 7220 
  Anthony Adams / Hannah Boros                         0500 
  Corporate Broking: Tim Redfern / Richard Chambers

About Wameja

Wameja and Mastercard are joint venture partners of the HomeSend global payment hub, together with Mastercard. HomeSend enables cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world. As a founding partner in the HomeSend hub, Wameja helped conceive and bring the opportunity to market.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 21, 2019 02:00 ET (06:00 GMT)

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