CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Eckoh wins its largest US Secure Payment contract worth $3.7m
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Eckoh wins its largest US Secure Payment contract worth $3.7m PDF Print E-mail
Thursday, 23 March 2017
Eckoh announces that it has won a new $3.7m five-year contract to provide secure payment services to a large US telecommunications provider. The solution, which will be deployed in financial year FY18, uses Eckoh’s patented tokenisation technology to secure card payments being made through the organisation’s contact centre facilities.The new contract, Eckoh’s largest US secure payments contract to date, enables 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 2016, 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 there have been a further three US secure payment contract wins, including today’s.This takes the number of payment contracts won this financial year to nine, matching the number of contracts won in the previous financial year, but delivering contract value of $8.3m which is over five times higher. As notable is the fact that of the contracts won this year only two of these are priced using an upfront fee model (“Capex”), the remaining seven using the SaaS style pricing model (“Opex”), which as announced in the trading update last September would be the Group’s preferred model going forward.

The table below illustrates the progress made in the US market since trading in the region commenced in April 2014. With less than 10% of the aggregate contract value this financial year having been won through the two Capex contracts, the SaaS-style contracts will improve Eckoh’s forward visibility of US payment revenues considerably, as well as more closely aligning the US with the UK model where there are 85% recurring revenues overall.

Nik Philpot, Chief Executive Officer Eckoh plc, commented: "The opportunity for Eckoh’s patented secure payment products in the largest contact centre market in the world is substantial and today’s $3.7 million contract is our largest ever. 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."
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197