Moneycontrol PRO

Aurionpro Solutions jumps 9% on US payment facilitator's Rs 150-crore job

The order is valued at $18 million (approx Rs 150 crore) and will be spread over three years commencing with the calendar year 2023.

December 26, 2022 / 11:09 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Aurionpro Solutions zoomed on December 26 after the company said its US-based subsidiary has received a “significant” new order from a payment facilitator that is also a client.

The company said this new order from one of the largest payment facilitators in the US offering merchant payment services in the insurance financing segment will help to expand the existing long-term relationship with this strategic client.

As of 10.40am, the stock price rose about 9 percent to Rs 328. The stock has not done that well during the current year so far. It is up about 6 percent, including today’s gain, year to date. In the last three years, though, it has delivered 454 percent gain.

Aurionpro’s Aurionpro Payments Framework – a comprehensive payments platform – is already live for this client. This new order includes an expansion of the client platform, AWS infrastructure support and extended services that will facilitate ongoing support, maintenance and enhancements.

The order is valued at $18 million (approximately Rs 150 crore) and will be spread over three years commencing with the calendar year 2023, the fintech company said.

“This is a key win for us as it provides a strong validation of market relevance and robustness of our solution capabilities and reinforces our strong credentials as a trusted payment technology provider in the market,” said Raj Biyani, EVP – Head, North America, Aurionpro.

“We are focused on significantly expanding our reach and impact in the US fintech landscape and this win will greatly help accelerate our progress in this direction.”

Moneycontrol News
first published: Dec 26, 2022 11:09 am