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Milestone's Nexstar Appointed Sales Agent For Benefits On Madison

LONDON (Alliance News) - Digital media and technology firm Milestone Group PLC on Wednesday said ...

Alliance News 26 October, 2016 | 10:16AM
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LONDON (Alliance News) - Digital media and technology firm Milestone Group PLC on Wednesday said its Nexstar joint venture partner, Black Cactus Holdings Pty Ltd, has extended an agreement with Canadian financial technology firm Benefits on Madison Inc.

The agreement now includes the Nexstar joint venture, Milestone said. Nexstar has been appointed as a sales agent by Benefits on Madison, allowing Nexstar to issue prepaid and debit cards and to promote Benefits on Madison's range of pre-paid debit card services.

Milestone said the agreement will increase Nexstar's suite of products and said the joint venture is already in talks about the new Benefits on Madison services with several high-value clients. It aims to sign its first contract by the end of this year, with a launch foreseen in the first quarter of 2017.

"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," Deborah White, Milestone's chief executive said.

Shares in Milestone were down 2.0% to 1.25 pence on Wednesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Milestone Group PLC 0.03 GBX -4.48 -

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