Midday Market Overview

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hibu inks deal with Vantiv for SME service

hibu has signed a deal with Ohio-based Vantiv to offer payments services to small and medium-sized enterprises in the US.

hibu's experienced sales team will be one of the largest to offer payments services in the US, initially to its existing customer base of more than 460,000 SMEs.

Vantiv has a market leading card processing capability, and together the two companies will offer high quality payments services for SMEs that are differentiated by:

* Access to the latest innovative technology, including mobile devices

* Transparent, simple and cost-effective pricing

* The opportunity to access a growing range of digital services from one provider, hibu

hibu chief financial officer Tony Bates said: "The payments market is changing rapidly and is particularly fragmented in the US.

"With this new initiative, we will help SMEs across the US take advantage of the new technologies and services that are emerging.

"This will also help them obtain high quality, cost-effective services from a provider that they know and trust.

"We look forward to working with Vantiv to provide this new opportunity."
At 3:36pm: (LON:HIBU) share price was +0.11p at 0.71p

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