Pushpay rejigs marketing structure

Pushpay Holdings [NZAX: PAY], the mobile payment app developer, has dropped its centralised marketing strategy in favour of subsidiaries targeting their local markets.

As part of the restructure, Pushpay appointed Weston Belkot as US marketing director and cut its general manager of marketing position, with executive Fraser Clark to leave the company from Oct. 31, the Auckland-based company said in a statement.

"The move will enable Pushpay's wholly-owned subsidiaries to better target their marketing and streamline their marketing process," it said.

Earlier this month, the company signed a deal with New Zealand Post to manage the state-owned enterprise's SMS client communications, without disclosing the value of the deal.

The NZAX-listed shares were unchanged at $2.35, and have more than doubled from the $1 listing price when the stock joined the bourse in August.