IODM Limited announced that it has signed a material variation to the agreement with Western Union Business Solutions ("WUBS")/Convera announced to the market on 30 June 2021 and expanded on in its market, in respect to the Education sector in the UK. Under the terms of the initial agreement the company was to receive no less than 15% and up to 30% of WUBS's revenue on payments that flowed through its system. IODM's share has now been amended to a flat rate of 30% from 1 October 2022 onwards.

In addition under the original agreement the company was to be paid its share of revenue by WUBS/Convera in the month following the end of quarter. As of 1 October 2022 the company will now be paid monthly, greatly improving the company's forecast cashflow.