RS2 Software, the Maltese IT company that has been operating here for over 20 years, has signed a €600,000 contract with Transworks LLC of New York, the company said.

Transworks LLC is an independent sales organisation which facilitates the card transaction process and acts as an intermediary between banks and retailers, processing 400 million transactions per year.

RS2 Software services banks, financial institutions and service providers operating in the fast-growing card payments industry.

RS2 has invested considerably in developing its proprietary software solution trademarked Bankworks, which is certified by the major international card organisations such as VISA and MasterCard.

The company experienced significant growth and is present in 23 countries including Scandinavia, Eastern Europe, the Middle East and the US.

"This step falls in line with current RS2 plans to further penetrate the US market and expand its business there", RS2 CEO Mario Schembri said. "This is yet another vote of confidence in Bankworks software and, moreover, the American market will also give us more possibility of growth."

Mr Schembri will be in New York next week for meetings with Transworks to explore more possibilities on how to further expand their operations through the use of this software.

RS2 Software plc will be listing its shares on the Malta Stock Exchange. Subscriptions for Initial Public Offering in RS2 Software plc open from Monday at all bank branches in Malta and Gozo and close on June 13.

This is a combined offering which may close earlier if oversubscribed.

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