Eckoh PLC Significant US contract win worth $7.4m (4288C)

TIDMECK

RNS Number : 4288C

Eckoh PLC

01 October 2018

01 October 2018

Eckoh plc

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

Significant US contract win worth $7.4m

Largest ever Secure Payments Contract

Eckoh, the global provider of secure payment products and customer contact solutions, is pleased to announce that it has won a two-year contract worth $7.4m to provide secure payment solutions to one of the largest corporations in the United States.

The contract was won in a competitive tender process.

Eckoh will implement its patented CallGuard tokenisation solution across the client's entire US organisation; protecting card payments made in its extensive contact centre facilities and automated systems, thereby assisting the client to become compliant with the Payment Card Industry Data Security Standard ("PCI DSS").

Eckoh's tokenisation process automatically replaces real card payment data or other personal data such as Social Security numbers with valueless 'placeholders' thereby encrypting and protecting customers' sensitive data. These placeholders can flow safely through a client's IT environment and contact centre infrastructure, reducing the risk of hacking and ensuring employees are not exposed to customers' sensitive information.

The solution is expected to go live in the final quarter of this financial year and will therefore make a modest financial contribution to FY19, with the majority being recognised in the following two financial years thereby supporting the Group's future pipeline.

Nik Philpot, Chief Executive Officer of Eckoh, said:

"We are delighted to have won our largest ever secure payments contract and with such a prestigious client. This win illustrates our market leading position in US secure payments and the scale of the opportunity for Eckoh.

"This contract also validates our strategy to focus on the largest enterprise contracts in the US, who recognise Eckoh's proven expertise in contact centre security - delivering carrier grade solutions on time and on budget, supported by a highly experienced team in territory."

For further information please contact:

 
 Eckoh plc                                          Tel: [phone] 
                                                               300 
 Nik Philpot, Chief Executive Officer 
 Chrissie Herbert, Chief Financial Officer 
 www.eckoh.com 
 
 FTI Consulting LLP                             Tel: [phone] 
 Ed Bridges, Jamie Ricketts, Darius Alexander 
 [e-mail] 
 
 N+1 Singer (Nomad & Joint Broker)              Tel: [phone] 
 Shaun Dobson, Lauren Kettle 
 www.n1singer.com 
 
 Berenberg (Joint Broker)                       Tel: [phone] 
 Ben Wright, Chris Bowman, Mark Whitmore 
 www.berenberg.de/en 
 
 Canaccord Genuity Limited (Joint Broker)       Tel: [phone] 
 Simon Bridges, Emma Gabriel 
 www.canaccordgenuity.com 
 

About Eckoh plc

Eckoh (AIM: ECK) 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, which include the patented CallGuard, 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. The products 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, processing over $1bn in card 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 Omni-channel 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. More information at www.eckoh.com.

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October 01, 2018 02:00 ET (06:00 GMT)