Proxama PLC New Contract Win (0330W)

TIDMPROX

RNS Number : 0330W

Proxama PLC

06 February 2017

06 February 2017

Proxama PLC

("Proxama", the "Company" or the "Group")

Announces 5 year contract with leading South African insurance provider

London, 06 February 2017: Proxama PLC (AIM:PROX), the international digital and mobile commerce company specialising in end-to-end payment solutions for card issuers and processors, announces that a leading South African insurance and financial services provider, has signed a 5 year contract with Proxama Solutions Limited for the supply of in-house EMV card issuing, PIN management and card lifecycle management. Revenue earned from software licenses, services and support will be GBP0.365m in 2017 and a minimum of GBP0.691m in total over the five years, with additional payments if certain card capacity thresholds are achieved.

Proxama will supply Payment Application Manager for EMV card issuing, card lifecycle and key management, PIN Manager for electronic PIN capture and distribution, and EMV Transaction Manager for EMV transaction authentication and post-issuance control of EMV cards, including PIN changes and risk management.

Patrick Regester, EVP Sales and Marketing for Proxama's Digital Payments Division comments: "We are delighted to have been selected as a partner. In addition to our tried and trusted software products that will support in-house EMV card issuing and processing, the customer will benefit from Proxama's in-depth experience of smart card deployments in South Africa and around the world. Coming hot on the heels of successful deployment of the Proxama product suite at Diners Club SA, we are keenly anticipating working with this team to make this programme another success, further reinforcing our presence in the South African market."

--ENDS-

Enquiries:

 
 Proxama PLC 
  John Kennedy, Chief 
  Executive              020 3668 2888 
----------------------  -------------- 
 Peel Hunt LLP 
  (Nominated Adviser 
  and Broker) 
  Richard Kauffer 
  Euan Brown             020 7418 8900 
----------------------  -------------- 
 Novella 
  Tim Robertson 
  Toby Andrews           020 3151 7008 
----------------------  -------------- 
 

About Proxama

Proxama is an international mobile commerce Company specialising in proximity marketing via mobile and providing end-to-end solutions for card issuers to migrate customers from magnetic stripe credit and debit cards to contactless mobile payments.

Proxama's digital payments division supplies smart credit and debit cards solutions to card-issuing financial institutions and processors in the United States, Europe, Africa and the Middle East, and specialises in enabling the migration from magnetic stripe cards to chip cards, and from contactless chip cards to mobile devices. The product set behind this division is Proxama's Digital Enablement Platform, a comprehensive suite of card and mobile payment-enabling technologies.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 06, 2017 02:00 ET (07:00 GMT)