Eckoh PLC Significant UK Contract Win (9707V)

TIDMECK

RNS Number : 9707V

Eckoh PLC

13 August 2020

13 August 2020

Eckoh plc

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

Significant UK Contract Win

Six-year Capita and TfL contract renewal worth GBP4m

Eckoh plc (AIM:ECK), the global provider of secure payment products and customer contact solutions, today announces it has secured a six-year renewal of its contract with Capita for the provision of services for the Congestion Charge to Transport for London ('TfL'), at a total contract value of GBP4m.

Following the Group's existing five-year agreement with Capita and TfL, Eckoh has secured a new six-year deal extending to September 2026. The extension is expected to see Eckoh deliver an expanded remit for the Congestion Charge service, providing customer contact centre solutions alongside the existing PCI DSS compliant Secure Payments service. The sophistication and uniqueness of Eckoh's complementary product suite will provide Capita with the capabilities to continue to efficiently deliver TfL secure customer payments, while streamlining and improving customer engagement via self-service applications.

The contract extension will span a far greater reach, covering TfL's new work expanding into the low emissions zone ('LEZ') and ultra-low emissions zone ('ULEZ'), planned for 2021 through to 2026. Alongside the recent extension of the Congestion Charge to further hours in the day and to weekends, these additional zones are expected to generate incremental use of Eckoh's services, therefore Capita will benefit from greater platform capacity under the new contract. In addition, the flexibility of Eckoh's products will allow them to provide TfL with an adaptable platform to facilitate new services for future needs, and help to manage any notable increase in payment volumes from vehicles entering the LEZ and ULEZ.

Nik Philpot, Chief Executive Officer of Eckoh, commented:

"We are delighted to have secured such a significant, valuable and long-term contract extension for TfL through Capita, who remain a key strategic partner and whose relationship continues to play a pivotal role in the growth of our business.

"We have been greatly encouraged by the continued demand we have seen for the Eckoh proposition from both new and existing clients in recent months, which has enabled us to be very resilient in what remain uncertain times. Not only is this testament to the sophistication and breadth of our product offering, but also to the quality and energy of our partners such as Capita.

"We are excited to help Capita expand its platform capabilities and advance its digital transformation roadmap to enable TfL to continue to offer the UK public best-in-class customer service. The renewal of our contract and scale of the deal gives us great confidence in the opportunities for Eckoh going forwards."

 
 For further information please contact: 
 
 Eckoh plc 
 Nik Philpot, Chief Executive Officer        Tel: [phone] 
 Chrissie Herbert, Chief Financial Officer 
 www.eckoh.com 
 
 FTI Consulting LLP 
 Ed Bridges / Jamie Ricketts / Darius        Tel: [phone] 
  Alexander 
 [e-mail] 
 
 N+1 Singer (Nomad & Joint Broker)           Tel: [phone] 
 Shaun Dobson / Tom Salvesen / Justin 
  McKeegan 
 www.n1singer.com 
 
 Canaccord Genuity Limited (Joint Broker)    Tel: [phone] 
 Simon Bridges / Andrew Potts 
 www.canaccordgenuity.com 
 

About Eckoh plc

Eckoh is a global provider of Secure Payment products and Customer Contact solutions, supporting an international client base from its offices in the UK and US.

Our Secure Payments products help our clients take payments securely from their customers through all engagement channels. The products, which include the patented CallGuard and ChatGuard, can be hosted in the Cloud or deployed on the client's site and remove sensitive personal and payment data from contact centres and IT environments. They offer merchants a simple and effective way to reduce the risk of fraud, secure sensitive data and become compliant with the Payment Card Industry Data Security Standards ("PCI DSS") and wider data security regulations. Eckoh has been a PCI DSS Level One Accredited Service Provider since 2010, securing over GBP2bn in payments annually.

Eckoh's Customer Contact solutions enable enquiries and transactions to be performed on whatever device the customer chooses, allowing organisations to increase efficiency, lower operational costs and provide a true Omnichannel experience. We also assist organisations in transforming the way that they engage with their customers by providing support and transition services as they implement our innovative customer contact solutions.

Our large portfolio of clients come from a broad range of vertical markets and includes government departments, telecoms providers, retailers, utility providers and financial services organisations.

For more information go to www.eckoh.com or email [e-mail]

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August 13, 2020 02:00 ET (06:00 GMT)