Significant US contract win worth $7.4m

Eckoh has won its largest ever secure payments contact - a two-year contract worth $7.4m to provide secure payment solutions to one of the largest corporations in the United States

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 tokenization solution across the client's entire US organization; protecting card payments made in its extensive contact center facilities and automated systems, thereby assisting the client to become compliant with the Payment Card Industry Data Security Standard ("PCI DSS").

Eckoh's tokenization 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 center 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 recognized 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 recognize Eckoh's proven expertise in contact center security - delivering carrier grade solutions on time and on budget, supported by a highly experienced team in territory."

For further information please contact: MediaResponseUS@eckoh.com