From the Trading Update. For Mobile Embrace to enter into a new...

From the Trading Update.

For Mobile Embrace to enter into a new territory there are three phases of execution, depending on suitability and market conditions:

Phase one is the establishment of the serviceable market for the territory through the securing and integration of direct carrier billing relationships and trading desk inventory. The territory is then soft launched in test and learn until targets for cost of customer acquisition (CPA) and profitable customer lifetime value (CLV) have been met while minimizing expenditure.

The second phase is the full rollout and marketing of products to grow customers, revenue, ARPU (average revenue per user) and transaction volume. This includes product enhancement and catalogue expansion through on-boarding partners, and extending trading desk reach across market segments.

The third phase is the provision and optimisation of additional consumer friendly mobile payment platforms where suitable in market (ie Google Wallet)