Eckoh PLC Significant UK Contract Win (9707V)
August 13 2020 - 2:00AM
UK Regulatory
TIDMECK
RNS Number : 9707V
Eckoh PLC
13 August 2020
13 August 2020
Eckoh plc
("Eckoh", or "the Company", or "the Group")
Significant UK Contract Win
Six-year Capita and TfL contract renewal worth GBP4m
Eckoh plc (AIM:ECK), the global provider of secure payment
products and customer contact solutions, today announces it has
secured a six-year renewal of its contract with Capita for the
provision of services for the Congestion Charge to Transport for
London ('TfL'), at a total contract value of GBP4m.
Following the Group's existing five-year agreement with Capita
and TfL, Eckoh has secured a new six-year deal extending to
September 2026. The extension is expected to see Eckoh deliver an
expanded remit for the Congestion Charge service, providing
customer contact centre solutions alongside the existing PCI DSS
compliant Secure Payments service. The sophistication and
uniqueness of Eckoh's complementary product suite will provide
Capita with the capabilities to continue to efficiently deliver TfL
secure customer payments, while streamlining and improving customer
engagement via self-service applications.
The contract extension will span a far greater reach, covering
TfL's new work expanding into the low emissions zone ('LEZ') and
ultra-low emissions zone ('ULEZ'), planned for 2021 through to
2026. Alongside the recent extension of the Congestion Charge to
further hours in the day and to weekends, these additional zones
are expected to generate incremental use of Eckoh's services,
therefore Capita will benefit from greater platform capacity under
the new contract. In addition, the flexibility of Eckoh's products
will allow them to provide TfL with an adaptable platform to
facilitate new services for future needs, and help to manage any
notable increase in payment volumes from vehicles entering the LEZ
and ULEZ.
Nik Philpot, Chief Executive Officer of Eckoh, commented:
"We are delighted to have secured such a significant, valuable
and long-term contract extension for TfL through Capita, who remain
a key strategic partner and whose relationship continues to play a
pivotal role in the growth of our business.
"We have been greatly encouraged by the continued demand we have
seen for the Eckoh proposition from both new and existing clients
in recent months, which has enabled us to be very resilient in what
remain uncertain times. Not only is this testament to the
sophistication and breadth of our product offering, but also to the
quality and energy of our partners such as Capita.
"We are excited to help Capita expand its platform capabilities
and advance its digital transformation roadmap to enable TfL to
continue to offer the UK public best-in-class customer service. The
renewal of our contract and scale of the deal gives us great
confidence in the opportunities for Eckoh going forwards."
For further information please contact:
Eckoh plc
Nik Philpot, Chief Executive Officer Tel: 01442 458 300
Chrissie Herbert, Chief Financial Officer
www.eckoh.com
FTI Consulting LLP
Ed Bridges / Jamie Ricketts / Darius Tel: 020 3727 1000
Alexander
eckoh@fticonsulting.com
N+1 Singer (Nomad & Joint Broker) Tel: 020 7496 3000
Shaun Dobson / Tom Salvesen / Justin
McKeegan
www.n1singer.com
Canaccord Genuity Limited (Joint Broker) Tel: 020 7523 8000
Simon Bridges / Andrew Potts
www.canaccordgenuity.com
About Eckoh plc
Eckoh is a global provider of Secure Payment products and
Customer Contact solutions, supporting an international client base
from its offices in the UK and US.
Our Secure Payments products help our clients take payments
securely from their customers through all engagement channels. The
products, which include the patented CallGuard and ChatGuard, can
be hosted in the Cloud or deployed on the client's site and remove
sensitive personal and payment data from contact centres and IT
environments. They offer merchants a simple and effective way to
reduce the risk of fraud, secure sensitive data and become
compliant with the Payment Card Industry Data Security Standards
("PCI DSS") and wider data security regulations. Eckoh has been a
PCI DSS Level One Accredited Service Provider since 2010, securing
over GBP2bn in payments annually.
Eckoh's Customer Contact solutions enable enquiries and
transactions to be performed on whatever device the customer
chooses, allowing organisations to increase efficiency, lower
operational costs and provide a true Omnichannel experience. We
also assist organisations in transforming the way that they engage
with their customers by providing support and transition services
as they implement our innovative customer contact solutions.
Our large portfolio of clients come from a broad range of
vertical markets and includes government departments, telecoms
providers, retailers, utility providers and financial services
organisations.
For more information go to www.eckoh.com or email
MediaResponseUK@eckoh.com
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END
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