Flexiroam (ASX:FRX) - CEO and Executive Director, Marc Barnett
CEO and Executive Director, Marc Barnett
Source: Marc Barnett/LinkedIn
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  • Flexiroam Limited (FRX) extends its global data plan partnership with Mastercard for a third year to cover the 2022 calendar year
  • Under the agreement, Mastercard will pay Flexiroam US$250,000 (A$351,775) upfront for data purchases with current data commitments to expire on December 31
  • The Flexiroam global data plan is available to qualified Mastercard cards at partnering banks as will a 15 per cent discount on Flexiroam data plan purchases
  • Mastercard have signed an additional 16 banks to the program in CY21, bringing the total banks onboarded to 20
  • Flexiroam shares are in the grey, trading at 4.3 cents at 11:34 am AEDT

Flexiroam Limited (FRX) extends its global data plan partnership with Mastercard for a third year to cover the 2022 calendar year.

Under the agreement, Mastercard will pay Flexiroam US$250,000 (A$351,775) upfront for data purchases with current data commitments to expire on December 31.

The Flexiroam global data plan is offered to eligible Mastercard cardholders at participating Asian banks and will continue to do so as well as be eligible to receive a 15 per cent discount on Flexiroam data plan purchases.

Since launching in Taiwan in 2020, the program is active across Vietnam, India, Indonesia, Thailand and Hong Kong, with Mastercard intending to roll out the program across further countries in the Asia-Pacific region.

Mastercard has now onboarded 20 banks with current coverage providing exposure to 271,000 potential customers with an additional 635,000 being added, based on Mastercards launch pipeline through to January 2022.

Flexiroam chief executive officer, Marc Barnett, says the partnership extension provides the company with access to a large customer base.

“Mastercard plans to roll out the program to several leading banks and fintechs in the coming months, including HSBC Hong Kong, Malaysia and Singapore and Matchmove Singapore,” he said.

“We are pleased that Mastercard is accelerating the pace of their rollout, which puts us in an excellent position to scale rapidly. It also provides an excellent opportunity for us to showcase our eSIM technology, which has broad connectivity applications across our Travel and Solutions verticals.”

Flexiroam shares are in the grey, trading at 4.3 cents at 11:34 am AEDT.

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