Brandshield secures SaaS contract with payment processing company

Software company Brandshield has secured a contract with an unnamed payment processing company, adding to the firm's growing number of clients in the financial services sector.

Brandshield said on Wednesday that the new auto-renewing, annual software-as-a-service contract would provide protection services to its client against phishing and impersonation attacks, providing an end-to-end solution from monitoring threats to their take-down.

Chief executive Yoav Keren said: "Payment processing platforms place a huge premium on security and their ability deal with huge volumes of transactions seamlessly and with absolute precision. Threats external to such clients can do a huge amount of damage to their reputation and consequently their ability to attract and retain business relationships.

"We are delighted this client has chosen BrandShield to protect its external online security alongside others in the field such as Simplex that secures crypto payment processing."

As of 1135 BST, Brandshield shares were up 4.73% at 19.11p.