Significant U.S. Contract Win
("PCI Pal", "the Company" or "the Group")
Significant U.S. Contract Win
PCI-PAL PLC (AIM: PCIP), the global provider of secure payment solutions, is pleased to announce that it has secured a three-year contract to provide its PCI Pal Agent Assist and IVR solutions to one of the largest privately-owned companies in the United States, with over 60,000 employees.
The contract, which was won through a competitive tender process following a successful proof of concept, has an Annual Contract Value1 ("ACV") of $566k. The first year's licence and professional services fees were invoiced on signing, with the second and third year licences to be invoiced when agreed delivery milestones are met, which is expected to be within this current financial year.
The customer will use PCI Pal Agent Assist across their contact centre operations, where they have more than 5,000 agents, as well as using PCI Pal IVR to provide secure payments through its automated payment channels.
Commenting on the contract, James Barham, Chief Executive Officer of PCI Pal, said:
"We are very pleased to announce this major U.S. contract win in what is only our second full year of trading in North America. It is particularly encouraging that this contract was won following a competitive tender process against our main global competitors. The selection of our market leading, globally available, cloud offering by this enterprise-size customer is further endorsement of its appeal to U.S. based companies.
"Since launching in North America, 100% of our sales in the region have been on our cloud platform. The size and strategic nature of this latest new customer win underscores both our confidence in our business and cloud platform strategy, and the attractive benefits of our SaaS revenue model, and reinforces our confidence in meeting expectations for this financial year."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
1 ACV is the expected annual recurring licence revenue component of the contract
For further information, please contact:
Via Walbrook PR
James Barham - Chief Executive Officer
William Good - Chief Financial Officer
finnCap (Nominated Adviser and Broker)
+44 (0) 20 7227 0500
Marc Milmo/Simon Hicks (Corporate Finance)
Richard Chambers (Corporate Broking)
+44 (0) 20 7933 8780
Paul Vann/Nick Rome
+44 (0) 7768 807 631
About PCI Pal:
PCI Pal is a provider of secure payment solutions for contact centres and businesses taking Cardholder Not Present (CNP) payments. PCI Pal's globally accessible cloud platform empowers organisations to take payments securely without bringing their environments into scope of PCI DSS and other card payment data security rules and regulations.
With the entire product portfolio served from PCI Pal's cloud environment, integrations with existing telephony, payment, and desktop environments are light-touch, ensuring no degradation of service while achieving security and compliance.
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