FAIRFX, a leading low cost multi-currency payments provider, is pleased to announce the admission today (5th Aug 2014) of its ordinary shares to trading on the AIM market of the London Stock Exchange and the commencement of dealings in its ordinary shares.

https://www.fairfx.com/

StockMarketWire.com
E-banking and payments group FairFX confirmed Friday that it had migrated its international payments business onto the City Forex platform.

The platform would provide FairFX payments customers access to a 7-year history of their transactions and the ability to trade their foreign exchange directly on the platform, FairFX said.

FairFX had acquired City Forex on 21 February 2018, to leverage the latter's City Forex platform.

'It was a major achievement to complete the migration in only ten weeks from closing the deal, which demonstrates the Group's ability to successfully integrate new businesses,' said Ian Strafford-Taylor, CEO.

StockMarketWire.com
Payments group FairFX said it expected its trading performance for the full year to be in line with market expectations.

'The group's performance in 2018 to date has been encouraging with continued strong growth,' chairman John Pearson said in speech notes for the company's annual shareholder meeting.

The company was already benefiting from the acquisition of City Forex in February, he said, including via efficiency improvements."

StockMarketWire.com
E-banking and international payments group FairFX launched Wednesday its new global business current account.

The 'Fair Everywhere' business current account includes multi-currency wallets, the company said.

The company also said that it would launch additional subscription tiers for businesses turning over different amounts and introduce a pay-as you-go pricing option.

StockMarketWire.com
Payment services provider FairFX said Friday it was confident of meeting full-year expectations after turnover exceeded £1bn in the six months through June amid strong margins.

For the six months to 30 January, turnover was up 146.2% year on year to £1.1bn, from £434.1m the previous year, in line with management's expectations.

On a like for like basis, excluding the acquired entities of Cardone and City Forex, turnover for the first half rose 22.8% to £532.9m.

Like-for-like turnover from prepaid cards and international payments rose 8.5% to £181.7m and 39.1% to £334.6m, respectively.

International payments turnover for the group increased 131.6% year on year, supported by additional volumes from City Forex, which saw year-on-year turnover increase by 39%.

Usage of the company's corporate card platform rose 28.3% year on year.

The company recently launched the 'Fair Everywhere' business account, which is expected to make global business banking 'easier,' FairFX said.

For the second half of 2018, the company said it would continue to focus extracting efficiencies while evolving the banking products for SME's.

'The performance of FairFX during the first half of 2018 demonstrates the execution of the Company's strategy to scale its core FX services whilst evolving the digital banking offering. The substantial growth in turnover has also been achieved without reduced margins and this gives us great confidence for the prospects for 2018 and beyond,' said FairFX CEO, Ian Strafford-Taylor.

This is another of my new investments a small punt at £1.32

StockMarketWire.com
Banking service FairFX reiterated Wednesday it was 'confident' of meeting full-year expectations after profit rose sharply amid ongoing corporate platform and international payments growth.

For the six months to 30 June, adjusted profit before tax rose to £2.6m from £0.18m a year earlier and group revenue increased by 97% to £12.0m.

Turnover was up 145% to £1.07bn, from £434.8m the previous year, and 23% on a like-for-like basis.

The corporate platform, which grew 28% and international payments, which grew 131% and 39% on a like-for-like basis, remained key areas of growth for the company.

Adjusted net profit margin increased by a factor of 10 to 21.9%.

'The business has delivered an excellent first half performance both operationally and in terms of bottom-line,' said Chief Executive Officer of FairFX, Ian Strafford-Taylor.

Top line turnover growth has continued, and with the Group operationally geared revenue is increasingly flowing through to profit. This trend is expected to continue in the second half of the year as we grow further and rationalise the supply chain.'

'Achieving this performance against a backdrop of weak Sterling, combined with less people taking holidays in 2018 due to the warm summer in the UK, bears testament to the great strides we have made in recent years to broaden the product mix and reduce our reliance on revenues from foreign exchange.'

'The outlook for the Group for the balance of the year remains positive despite Brexit weighing on Sterling and providing a headwind. We are actively improving the supply chain both in terms of robustness and improved economics, which we strongly believe will feed through in the second half. We also have an exciting pipeline of product enhancements for the remainder of 2018, and we look forward to updating the market in due course.'

'Against this background, we remain confident that the full year results will be in line with expectations.'

FairFX to gain access to the US Market
FairFX, the low-cost multicurrency payments and e-banking service, is pleased to announce that it has entered into a binding term sheet with Metropolitan Commercial Bank to offer customers its payments services across the USA. The Company expects to enter into a multi-year contract in Q1 2019 subject to final confirmatory due diligence having been completed.

Under the current regulatory permissions of the FairFX Group, transacting with US citizens and businesses has generally not been possible, causing the Group to turn away regular business. This contract, once signed, will enable FairFX to service this demand and begin to grow a customer base in the USA, representing another point of differentiation for the Group.

The term sheet covers both international payments and prepaid card issuance. In common with FairFX in the UK, Metropolitan Commercial Bank is an Issuing Bank in the USA. The Board believes that there is a strong demand for the FairFX Corporate Expense platform across America and this agreement allows the Group to roll out the platform more widely.

The Group's initial focus for the US market is to have its International Payments service operational in Q1 2019, whilst card issuance is planned to go live in Q2 2019, due to the logistics and supply-chain lead-times involved.

Nice little move this morning but still sitting on a huge paper loss.

StockMarketWire.com
Payments group FairFX said annual turnover more than doubled led by strong performance in its International Payments.

Full year turnover rose 111% to £2.3bn, in line with management expectations. Excluding the contribution from acquisitions of CardOne Banking in August 2017 and City Forex in February 2018, turnover was up 22%.

International Payments were up 134% and Prepaid Cards up 8%.

The company expected to report adjusted earnings (EBITDA) of approximately £7.5m.

'The board is pleased to confirm, however, it expects 2019 to be another year of significant growth,' FairFX said.

Harrycat I have a some of these can’t believe how much they are down

I used to hold FFX but sold out a while ago, just because I had a decent profit.
I keep watching and think I should really get back in, but as you say, the sp continually drifts, even with good news.
I don't have an answer why, except that the whole banking sector seems to be out of favour at the moment.
I still think this is a well run company with lots of potential to expand. I have a € card with them (their exchange rate is pretty good) and will continue to watch the sp for a decent entry point. Not sure when that will be though!

What is happening with this share .....

FairFX granted settlement accounts at Bank of England, Gains direct access to Faster Payments Scheme
FairFX, the e-banking and international payments group, announces that, through its subsidiary Spectrum Payment Services ("SPS"), it has been granted settlement accounts with the Bank of England and, in turn, has become a Direct Participant of the UK Faster Payments Scheme ("FPS").

FPS is one the fastest growing UK payment systems and the only real-time 24/7 service that is in increasing demand from personal and business customers using both desktop and mobile applications.

The Company's direct connection to FPS has been enabled by the New Access Model that extended access to Real Time Gross Settlement ("RTGS") accounts held at the Bank of England, as part of a wide-ranging effort to inject more competition and innovation into the UK's payments systems.

FairFX is only the fourth non-Bank to become a directly connected and directly settling member of FPS.

Furthermore, with access to RTGS accounts, FairFX is now eligible to join other UK Payment Schemes such as BACS and CHAPS. Alongside this development, FairFX will own its sort code, which, in conjunction with its SWIFT membership, means it can now create IBANs for customers with no other financial institution involved in the process. This will benefit the Company through enhanced economics via reduced cost per transaction coupled with enhanced customer acquisition and retention via instant payments which will vastly enhance the user experience and satisfaction.