Australia's Novatti Group jumps on acquiring licenses by Visa, Mastercard

Novatti

08/11/2021 24:58

** Payment services provider Novatti Group  NOV.AX  rises as
much as 6.3% to A$0.425, its biggest intraday pct jump since Oct
20
    ** Co says it has been awarded acquiring licences by both
Visa and Mastercard (https://bit.ly/3woM2ws)
    ** Novatti now a Principal Member of Mastercard for
Acquiring Services, and Principal Member with Visa for Issuing
and Acquiring
    ** Says it will result in increased margins, and expand
business opportunities
    ** Adds that revenue to be generated from acquiring licenses
will depend on take-up of services
    ** Novatti up ~54% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))