Trust Stamp (Nasdaq: IDAI) has announced an amendment to the Software and Licensing Agreements with its Fortune 500 financial services customer extending the contract first entered into in November 2016 to May 31st 2031, subject to customary cancellation rights. The amendment also provides for changes to the fee structure to reflect the growing usage of Trust Stamp’s technology with guaranteed minimum monthly fees and annual inflation linked increases. Based on the minimums set out in the amendment, the gross revenue over the balance of the contract term has the potential to exceed $12.7 million.

Gareth N. Genner, Chief Executive Officer of Trust Stamp commented: “Our customer is a Fortune 500 financial services leader and one of the largest issuers of private-label and co-branded credit cards in the United States. With deep marquee partnerships across retail, healthcare, and digital platforms, the group combines scale, innovation, and financial strength to deliver consumer financing solutions trusted by tens of millions of Americans. We have been proud to support our customer with market-leading technology initiatives over the last nine years and are excited by the continued partnership and growth potential as we jointly develop consumer-friendly solutions that empower people and businesses alike.”

For more information about Trust Stamp and its initiatives, visit www.truststamp.ai.