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Software provider 9Spokes (ASX: 9SP) has announced it’s exploring business opportunities with Visa USA.
The two companies have signed a Collaboration Framework Agreement to “potentially collaborate on mutual areas of interest”.
In addition to its agreement with the payments giant, 9Spokes is fresh off a deal with Microsoft which saw its share price rocket at the start of March.
The company was approved as a Microsoft “One Commercial” partner, which will see it get product support and a listing on the software giant’s online marketplace.
9Spokes’ software provides a dashboard platform to help SME companies summarise key information from multiple data sources.
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Following the Microsoft deal, 9Spokes’ share price jumped from 1.2c to more than 4c.
It closed at 4.5c yesterday and in the wake of the Visa news, shares initially jumped more than 15 per cent to above 5 cents before easing back slightly.
The nature of the agreement is more exploratory at this stage, and “doesn’t infer commercial benefits or obligations on either party”, 9Spokes said.
CEO Adrian Grant said the company has a strategic focus on the banking sector as it looks to build market share among small-business clients.
“We have been working to transform our distribution model to cement a broader reach and deepen our pipeline with key international banks.”
Working with Visa will provide the opportunity to provide “richer content and insights” for 9Spokes banking and SME clients, Grant said.