Proxama Wins Cards Deal With South African Financial Services Firm

LONDON (Alliance News) - Proximity marketing firm Proxama PLC on Monday said it has signed a five-year card issuing deal with an unnamed South African insurance and financial services company.

Under the deal, Proxama Solutions Ltd will supply in-house EMV card issuing for the client, along with PIN number management and card lifecycle management. EMV is a global standard covering computer chips used in credit cards.

Proxama will make GBP365,000 in revenue from the deal in 2017 and a further GBP691,000 over the remainder of the five-year deal.

Shares in Proxama were up 6.7% to 0.40 pence on Monday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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