SHARE PUNT OF THE WEEK

WHO IS IT? Vipera makes software for banks to provide mobile services to customers for things such as contactless payments, phone banking, digital wallets and loyalty card programmes.

It is also working on some more unusual technology projects, recently revealing plans for a shopping app called Follow Me. It will be able to direct customers to a product they want in a store, which they can then scan, using their phone, to see further information such as pricing and videos. WHAT’S THE LATEST? It has just secured a £1.9m contract with a leading financial institution in the United Arab Emirates to develop its contactless payments and web banking technology.

It has also announced a pipeline of contracts worth more than £6.7m. The firm’s 2016 results saw revenues jump to £6.7m from £5.7m in 2015, despite reporting an overall loss of £1.3m for the period. WHO BACKS IT? Non-executive director Petter Neby, 44, who has developed a

number of technology businesses, is its biggest shareholder, with a 16.1pc stake. Chief executive Marco Casartelli, who was part of the founding team of Yahoo Italy, has an 11.8pc stake.

Vipera is also backed by asset manager Octopus Investments, which owns 11pc.

WHY YOU SHOULD INVEST Contactless payments, and mobile banking in general, have picked up huge interest in recent years. The company itself states both consumers and businesses now expect highquality mobile services from their bank.

The company is down 2.3pc for the year, but with a backlog of products in the pipeline this could be a great time to invest. …AND WHY YOU SHOULDN’T Technology firms have a reputation for being cash hungry and it can take a long time for profits to materialise. Indeed, the firm reported a loss in 2016.

Some investors may also be sceptical of Vipera’s more ambitious projects, until seeing evidence of their success.