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A smart way to profit from Apple’s growth

A provider of a state-of-the-art mobile payment platform has signed a transformational agreement with an [undisclosed] multinational technology group, and several other important contracts, too
A smart way to profit from Apple’s growth
  • Major agreement to provide carrier billing and subscription services to leading multinational technology group
  • Potential to be a major contributor of revenue over the medium term
  • Separate agreement signed with TelevistaUnivision

Aim-traded Bango (BGO:164p), a provider of a state-of-the-art mobile payment platform enabling smartphone users to charge purchases made in app stores straight to their mobile phone account, has signed what should be a transformational agreement with an undisclosed multinational technology group.

House broker Liberum Capital and Berenberg believe the contract is with Apple, the only remaining major global tech leader that hasn’t been using Bango’s technology. Bango already partners with Google Play, Microsoft Windows Apps, Facebook App Centre, Amazon App store and Samsung Galaxy Apps. Liberum understand that Bango will be one of only two providers for carrier billing services for Apple's app store payments and subscription services globally. To put the scale of the opportunity into some perspective, Liberum analysts Ciaran Donnelly and William Larwood estimate Apple’s app store generated gross app revenue of $85bn (£69.6bn) last year, having increased at a compound annual growth rate (CAGR) of 22 per cent since 2017.

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