Shares of payment services firm Spenda (ASX:SPX) recently soared as much as 7.7% to A$0.014, marking their highest point since April 24.

This positive trajectory follows the company’s entering of a binding agreement with software company AgriChain.

This agreement will allow Spenda, through its funder, to integrate early payment services into the AgriChain platform, serving grain growers.

In a further boost to its customers, Spenda will provide extended terms of trade via the provision of pre-approved virtual Mastercards.

These recent developments have contributed to Spenda’s stock success, with a healthy rise of approximately 18.2% thus far this year.

Spenda is a firm that provides payment services to its customers.