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Eckoh PLC lands US$7.4mln US deal, its biggest ever secure payments contract

The agreement is with an unnamed client described as one of the largest corporations in the US

credit cards fanned out
The company is a card payment security specialist

Eckoh PLC (LON:ECK) has won its biggest ever secure payments contract, sealing a two-year deal worth US$7.4mln.

The agreement is with an unnamed client described as one of the largest corporations in the US. Eckoh will implement its patented and industry compliant CallGuard tokenisation technology across the client's entire American business.

Operational this year

This will protect card payments made to its contact centres and automated systems. The new operation is expected to be up and running by the final quarter of this financial year, which means the contract, won in a competitive tender, will make a modest financial contribution to the 2019 results.

“This win illustrates our market-leading position in US secure payments and the scale of the opportunity for Eckoh,” said chief executive Nik Philpot.

"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."

Shares rose 11.8% to 42.50p.

Quick facts: Eckoh PLC

Price: 63.5 GBX

Market: AIM
Market Cap: £161.21 m

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