PCI-PAL PLC Trading Update & Contract Awards (3541Y)
December 05 2017 - 1:00AM
UK Regulatory
TIDMPCIP
RNS Number : 3541Y
PCI-PAL PLC
05 December 2017
PCI-PAL PLC
('PCI Pal' or the 'Company')
Trading Update and Contract Awards
PCI Pal, the customer engagement specialist focused on secure
payment solutions, announces that it has won a further major
reseller contract and two new UK local Government contracts in
November 2017, through its partnership with global cloud contact
centre telephony provider, 8x8 Inc. These wins conclude a strong
month for the business, with a total of 7 customer contracts (4 of
which originated through channel partners) being signed.
The major reseller contract is with a FTSE-250 company with
operations across the payments, telephony, contact centre, and
outsourcing markets, and was won through competitive tender. The
reseller will be utilising PCI Pal's Amazon Web Services (AWS)
platform to deliver a cost effective, operationally efficient,
secure payment solution to its customer base across the UK and
Europe.
The current financial year has started well with recurring
revenues showing a 50% growth year-on-year, with 100% client
retention. Overall revenues are also ahead for the year-to-date,
including less non-recurring, one-off revenue, as the revenue model
transitions to a complete software as a service (SaaS) license fee
focus. Set up fees and professional service charges will
increasingly diminish in materiality as the business grows. There
is also a significant pipeline of contracted projects still to
go-live, which will generate further recurring revenue in due
course; and new enquiries are continuing to increase as the
business scales up its marketing activities.
William Catchpole, Chief Executive of PCI Pal, commented:
"The continued success of the business in winning key channel
partners, coupled with the recent announcement of full PCI
compliant status for its globally accessible AWS offering, provides
PCI Pal with a strong platform from which to continue to grow and
access volume customer prospects through key channel partner
relationships. The cloud based AWS offering gives PCI Pal the
capability to provide secure payment solutions that complement
contact centre environments anywhere in the world.
"I am extremely pleased with how the current financial year has
started. The level of global enquiries we are receiving more than
vindicates our strategy of focusing entirely on our PCI compliant
contact centre payment solutions. As with any channel sales route
to market, revenue momentum may take time to build, but once
established we believe we will have access to a far greater market
opportunity than that available from direct sales alone.
"The level of enquiries looks set to accelerate demand for our
services faster than anticipated and the Company is evaluating the
resourcing levels that may be required to take full advantage of
the commercial opportunities in a nascent but fast-growing
international market."
For further details, please contact:
PCI-PAL PLC Via Walbrook PR
William Catchpole - Chief
Executive Officer
William Good - Chief Financial
Officer
N+1 Singer (Nominated Adviser
& Broker)
Aubrey Powell / James White +44 20 7496 3000
Walbrook PR +44 (0) 20 7933 8780
Tom Cooper / Paul Vann +44 (0) 797 122 1972
tom.cooper@walbrookpr.com
This announcement is released by PCI-PAL PLC and contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 ("MAR"), encompassing information relating
to contract awards. The inside information is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Company by William Catchpole, Chief Executive, and
William Good, Chief Financial Officer.
About PCI-PAL PLC:
PCI Pal is a Payment Card Industry-Data Security Standard Level
1 certified supplier of contact centre payment solutions and
services enabling organisations to take customer payments securely,
to store customer data safely, in particular credit card data, and
to de-risk their business from the threat of data loss and
cybercrime.
PCI Pal solutions are currently used in more than 70
organisations, many of which are global businesses in the retail,
services, and utilities sectors, utilising PCI Pal technology to
ensure they meet industry rules and regulations governing customer
data protection.
In May 2018, the new General Data Protection Regulations come
into force across the EU. Material data breaches can now lead to
fines of up to 4% of an offending organisation's worldwide
turnover. This, together with the PCI regulations, means that all
organisations who take contact centre payments need to carefully
monitor and control their PCI and data compliance.
The shares of PCI-PAL PLC and its predecessor have been admitted
to trading on the AIM market of the London Stock Exchange since
September 2000.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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