- Shares in payment specialist OFX Group (OFX) surged today after the payment specialist struck a partnership with tech giant WiseTech (WTC)
- Under the deal, WiseTech will make OFX its preferred provider for international payments
- According to OFX CEO Skander Malcolm, today’s deal will streamline international payments for WiseTech customers and save them money
- The deal will only officially launch in 2022 and will last for three years
- Importantly, OFX says the deal will bring in at least $5 million in fee and trading revenue and deliver “material” earnings growth
- Investors seemed impressed with the deal, with OFX shares closing 9 percent higher at $1.33 a pop
