LONDON (ShareCast) - (ShareCast News) - Global provider of secure payment products and customer contact solutions, Eckoh, announced on Wednesday that it won a new $3.7m five-year contract to provide secure payment services to a large unnamed US telecommunications provider.
The AIM-traded company said the solution, which would be deployed in financial year FY18, would use Eckoh's patented 'tokenisation' technology to secure card payments being made through the organisation's contact centre facilities.

It said the new contract - Eckoh's largest US secure payments contract to date - would enable the client to comply more easily with the Payment Card Industry Data Security Standards (PCI DSS) and to help prevent fraud.

In the half-year results announced on 29 November, Eckoh reported strong progress in the US with payment contract value having more than doubled compared to that of the previous financial year.

Since then, the board said there had been a further three US secure payment contract wins, including the one announced on Wednesday.

That takes the number of payment contracts won in the current financial year to nine, matching the number of contracts won in the previous financial year, but delivering contract value of $8.3m which is more than five times higher.

"The opportunity for Eckoh's patented secure payment products in the largest contact centre market in the world is substantial and today's $3.7m contract is our largest ever," said Eckoh chief executive Nik Philpot.

"With a limited number of competitors and a product portfolio with a breadth and flexibility that they cannot match, we are convinced that Eckoh can become the natural choice for contact centre security.

"The strong progress we have made in the US this year is clear, both in terms of the value of the contracts and the quality of those future earnings, and underscores our ability to capture the scale of the opportunity and to deliver significant growth over the coming years."

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