- Flexiroam (FRX) expands its Global Data Plan partnership with Mastercard Asia Pacific to cover all Mastercard credit card issuers globally
- This will allow any Mastercard issuing bank around the world to participate in the program
- Under the agreement, Mastercard will increase the minimum commitment to US$500,000 (A$715,000) annually, up from US$250,000 for data purchases in the Asia Pacific
- Cardholders are entitled to a 15 per cent discount on Flexiroam data plans purchased with an eligible Mastercard
- Shares in Flexiroam are up 13.2 per cent, trading at 4.3 cents at 2:09 pm AEST
Flexiroam (FRX) has expanded its Global Data Plan partnership with Mastercard Asia Pacific to cover all Mastercard credit card issuers globally.
This will allow any Mastercard issuing bank around the world to participate in the program.
Under the expanded agreement, Mastercard will increase the minimum commitment to US$500,000 (A$715,000) annually, up from US$250,000 for data purchases in the Asia Pacific.
There are no minimum data purchase commitments for regions outside of the Asia Pacific and the company confirmed billing will be done quarterly in arrears.
The current run rate for the year has Mastercard revenue on track for US$800,000 for the full year, with 2023 revenue forecast to be in excess of US$1 million as the additional regions begin to ramp up.
Commenting on the partnership expansion, Flexiroam CEO Marc Barnett said the rapid expansion has increased the company’s potential customer base and will continue as the company makes the Flexiroam reward available to any bank that wants to participate globally.
“The rollout will substantially increase our profile across global markets and comes at a time when demand for international travel is increasing, as restrictions are reduced,” he said.
“[The expanded partnership] demonstrates the strength of the relationship we have built and the value Mastercard can see in the Flexiroam product for their cardholders.
“We have streamlined the redemption process for users, making the experience faster and simpler, providing instant activation for eSIM enabled devices.”
The Flexiroam Global Data Plan is offered as a benefit to Mastercard cardholders by participating banks.
Eligible cardholders are rewarded with global roaming data packs paid for by Mastercard,
which can be used in over 200 countries and territories.
Cardholders are also entitled to a 15 per cent discount on Flexiroam data plans purchased with their eligible Mastercard.
Shares in Flexiroam were up 13.2 per cent, trading at 4.3 cents at 2:09 pm AEST.