RC365 jumps 28% on cruise payments deal, but the terms keep expectations in check

RC365 Holding PLC (LSE:RCGH, FRA:L2G) rose 28% to 2.8p on Tuesday after the payments minnow signed a merchant deal with Asian cruise operator StarCruises.

The move adds roughly £1m to a company that started the day worth only a few million pounds. Volatility like this is normal for the stock, which trades around a penny most weeks.

RC365's wholly owned subsidiary Regal Crown Technology will deploy its MOE POS system, part of the RC3.0 app, across StarCruises sailings. The system accepts card and cryptocurrency payments and runs without onboard hardware.

The pitch is straightforward. Cruise ships are closed-loop spending environments where passengers buy retail, dining and entertainment in one place. Star Voyager carries around 2,000 guests, with capacity near 2,400.

Revenue depends entirely on what passengers spend

This is where the news needs reading carefully.

RC365 earns a percentage fee on gross sales processed through RC3.0. There are no minimum transaction commitments, so the contract guarantees nothing.

User acceptance testing is still underway, with go-live targeted for June. The one-year term started on 1 June and renews automatically unless cancelled.