Trintech reports net loss in Q3

PAYMENTS group Trintech said it made a net loss of just under $20,000 in the third quarter.

The group disposed of its electronic payments hardware business, to focus on its transaction software for the fund management industry.

Revenue, excluding that of the disposed payments business, amounted to $6.7 million for the quarter, compared to $5.3m in the same period last year.

The company said in a statement: “The future growth of Trintech will be focused on its transaction reconciliation software business... We plan to expand this business aggressively through our investment in new products and markets and will continue to seek further acquisition opportunities in our target market both in the US and in Europe.”