WESTPAY: New long-term agreement with Open, minimum value of SEK 20 millions over the first three year period

Westpay AB, a leading fintech company, and Open continue their long lasting business cooperation, and have signed a new five year agreement. Open (formerly OpenSolution), is the Nordic region’s leading provider of point of sales solutions for the restaurant and service industries.

Under the terms of the agreement, Westpay will continue to supply Open with state-of-the art payment solutions for cashless, so called card present, on-site transactions. The foundation for these payment solutions is Carbon, Westpay’s unique range of Android based payment terminals.

It is a frame agreement with an initial contracted value of SEK 20 millions during the first three years. Westpay estimates that the actual revenue during this period will reach SEK 40 millions.

For additional information, please contact:

Sten Karlsson, CEO Westpay AB
Mobile: +46 70-555 6065
Email: sten.karlsson@westpay.se

Westpay’s Certified Adviser is Erik Penser Bank, phone: +46 8-463 80 00, email: certifiedadviser@penser.se

This press release contains such information that Westpay AB is required to publish in accordance with the EU Market Abuse Regulation. The information was published for public disclosure on 3 July 2019 at 10:45 CET through the agency of the contact person set out above.