SyQic plc (AIM:SYQ), a fast growing OTT provider of live TV and on-demand paid video content across mobile and internet enabled consumer devices, announces that it has extended the number of available payment methods for its customers through the launch of pre-paid scratchcards.
The addition of the branded scratchcards to the available payment options for SyQic’s Yoonic OTT service will, in the opinion of its directors (the “Directors”), assist SyQic in increasing the growth rate of its customer base across all geographic markets by ensuring that the Yoonic OTT platform is also available to as wide an audience as possible, including in those markets where credit card or telephone billing are less popular payment methods. At the same time, the Directors anticipate that the scratchcards will provide an additional important visual marketing tool by virtue of the fact that they will be on display in retail outlets. The scratchcards will be sold via distribution channels and arrangements are currently being put in place to facilitate this. Further announcements will be made at the appropriate time.
SyQic has entered into partnerships with Nitecrest, one of the UK’s leading printers and manufacturers of plastic cards, loyalty gift cards, SIM card packaging and smart cards, to manufacture the scratchcards and MBL Solutions, an integrated marketing company, to monitor and track real time movements and redemptions of cards. In particular, MBL Solutions will provide invaluable marketing insights, including the ability to exercise tight control over card stock levels, along with considerable experience of integrated marketing projects for a wide portfolio of retail clients.
Commenting on this development, Jamal Hassim, Group Chief Executive Officer of SyQic, said: “As a global service provider we have to recognise that the way that our customer base accesses and pays for our services will differ from person to person and region to region. With that in mind, we are focused on ensuring that our Yoonic OTT platform can be accessed by as wide a customer base as possible and, most importantly, that those customers and potential customers can pay for our service with minimal hassle.
The Board is delighted to be partnering with Nitecrest and MBL Solutions and we look forward to the increased benefits of a close working relationship with both partners and to leveraging the marketing intelligence that can be generated from using pre-paid scratchcards.”
For further information:
Jamal Hassim, Group Chief Executive OfficerTel: Tel: +44 (0) 20 7398 7709
Steve Elliff, Chief Financial Officerwww.syqic.com
Allenby Capital Limited
Alex Price / Jeremy PorterTel: +44 (0) 20 3328 5656
Abchurch Communications Limited
Henry Harrison-Topham / Joanne ShearsTel: +44 (0) 20 7398 7709
Notes to Editors:
SyQic is a fast growing OTT (Over The Top) provider of live TV and on-demand paid video content across mobile internet-enabled consumer electronics devices such as mobile phones and tablets through its “Yoonic” platform. Yoonic has efficient mobile video streaming as its core offering and allows for close to high definition streaming, utilising adaptive bit-rate streaming technology that matches the available bandwidth through the Group’s proprietary encoding methodology, and can stream as low as 80kbps.
The Group has access to over 20,000 titles of online video-on-demand content as well as over 70 live television feeds comprising English language based content and native language content for a number of ‘home markets’ in Asia and their international migrant communities. The content is delivered through SyQic’s platform via a number of channels in the movies, drama, music, sports, news, lifestyle and general entertainment genres.
The Group, which is incorporated in Jersey and headquartered in the UK, already has a significant service footprint in the Philippines, Indonesia and Malaysia and near term Bangladeshi and Filipino content launches are planned for the UK and the Far East.