News Column

Proxama Awarded Funding To Provide High-Street Service In Norwich

June 19, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Shares in Proxama PLC rose Thursday after it said it has been awarded funding to provide mobile proximity marketing and loyalty services in Norwich.

The mobile payments services company said the main objective of the government funded initiative for Norwich is drive engagement in the high street by connecting consumers via their mobile devices with high street retailers.

Through the project, Proxama said that shoppers in Norwich will be able to purchase new products as well as sign up for incentives such as coupons, discounts and loyalty services.

It said a successful pilot will mean the potential for national and global roll out.

"The project funding will help us prove the value of proximity services on the high street, enabling a broader rollout in the UK and beyond," said Chief Commercial Officer Miles Quitmann in a statement.

Earlier this week, Proxama said it was expecting its revenues in the first half of 2014 to be modest, but expects a significant increase in revenues for the second half and a strong performance for 2015. It also said it had made significant progress in 2014 to date, as it continued to develop its strategic partnerships and extend its technical capabilities.

Proxama shares were trading 3.8% higher Thursday morning at 4.75 pence.

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Source: Alliance News

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