Proxama PLC New Contract

TIDMPROX

Proxama PLC

11 December 2015

Proxama PLC

("Proxama" or the "Company")

New Contract Win

London, 10 December 2015: Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing and provider of end-to-end payment solutions for card issuers, is pleased to announce a new contract win with a major North American bank. The two year contract is to supply, install and maintain a network of proximity services for 10,000 mobile touch points throughout the bank's national branch network in North America.

Proxama's mobile proximity marketing division has responded to the bank's desire to accelerate its mobile banking strategy and encourage its millions of customers to engage with the bank via their mobile.

Using mobile proximity technology, banking customers will be prompted to download the bank's mobile payment app for further engagement with the bank. The ease of downloading the app is expected to encourage significant numbers of their customers to use their mobile for making payments, thereby facilitating a potential increase in overall transaction volumes as well as maintaining the bank's competitive edge.

Proxama's award-winning TapPoint(R) platform is the enabling technology behind the bank's proximity touch point network and the connection to consumer mobile devices. The network touch points will be at assigned locations in individual branches and at employee level, to enable advanced reporting and analytics in relation to audience engagement and app downloads.

The contract commences in January 2016 and will go live over the subsequent 120 days generating income for Proxama over the following 24 months. At the end of the two-year period, the Company expects to be in a position to renew the contract.

Jon Worley, CEO of the Proxama marketing division comments, "We believe this is the first large scale network of its kind in the banking sector and we are delighted to be at the heart of it. There is no doubt, mobile proximity technology is a natural partner to encourage customers to download the banks app and from that moment customers could receive discounts and loyalty incentives which will drive an increase in banking through mobiles. We are confident mobile banking will over time become the norm and Proxama is in a good position to benefit.

This contract also demonstrates the expansion of the Proxama Network and the potential to open up other greater revenue generating opportunities in the financial sector."

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 
  Ben Heath                         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.

-- The technology to support mobile payments is now in place. 90% of the world's smartphones have technology to make mobile payments and in 2015 30 million contactless mobile payments are expected to be made compared to 3 million in 2014.

-- Proxama has been at the forefront of this market for the last 10 years. Today, Proxama's solutions are used by banks, financial institutions, loyalty companies, media owners, stadium owners, retailers and brands. Current clients include: Diners Club, Navy Credit Union, Fiserv, Nets, Exterion Media, Harrods, O2 and Ubiquitous.

-- The proximity marketing division focuses on connecting consumers to brands and retailers via Bluetooth Low Energy (BLE) beacon technology and Near Field Communication (NFC). Proxama establishes and owns beacon networks in high footfall locations such as City Centres, transport networks, stadia, shopping malls, entertainment hubs and retail outlets, which are then able to communicate to consumers via messages to mobiles when the consumer is in close proximity to a beacon. The technology platform at the heart of this division is TapPoint(R).

-- The payments division manages end-to-end credit and debit cards solutions on behalf financial institutions in the United States, Europe and the Middle East and specialises in enabling the migration of cards from magnetic stripe cards, to chip and pin cards and from contactless chip cards to mobile devices. The technology behind this division is Proxama's Digital Enablement Platform.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 11, 2015 02:00 ET (07:00 GMT)