Eckoh Technologies Regulatory News (ECK)

17 October 2023

RNS Reach

Eckoh plc

("Eckoh" or the "Group")

Eckoh launches updated Secure Digital Payments platform

- Brings new digital payments capabilities to contact centres

- Provides greater consumer choice across channels and digital payment methods

- Enables contact centres to better serve customer needs, increase payment

volumes and utilise more effective security methods

- Paves the way for further innovations with contact centres at the forefront of consumer

adoption of digital payment technologies

Eckoh plc (AIM: ECK), the global provider of Customer Engagement Data Security Solutions, is pleased to announce the launch of a significant update to its Secure Digital Payments platform, offering enhanced digital payment choice and convenience within contact centres.

The new innovation in Eckoh's cloud platform broadens consumer choice across channels and digital payment methods, which enables contact centres to better serve customer needs at a time when consumers are increasingly looking to adopt an array of digital wallets and varied payment options.

We are seeing a significant shift among consumers towards alternative digital payments. This in turn creates opportunities for Eckoh as it protects a growing international client base and some of the world's largest enterprises engaging with contact centres. Commenting on its 2022 Digital Payments Consumer Survey, McKinsey said digital payments penetration had reached 89%*. What's more, 62% of respondents were now using two or more forms of digital payments, up from 51% the year before.

By using Eckoh's Secure Digital Payments platform, our clients' customers now have the freedom to combine their preferred contact channel with their favourite payment method - Apple Pay over WhatsApp, Pay by Bank via live chat, pay-later apps over the phone - and many other combinations.

In particular, the Secure Digital Payments platform will enable contact centres to better serve customer needs, extend their services to social media and third-party channels, increase payment volume capacity and speed, provide greater choice with pay-now or pay-later options and provide stronger authenticated security through methods such as fingerprint or facial recognition.

As well as supporting traditional secure card payments, Eckoh's Secure Digital Payments platform is also built to support all emerging payment methods that support evolving customer needs such as global 'super apps', cryptocurrencies, and central bank digital currencies (CBDCs).

Nik Philpot, Chief Executive Officer at Eckoh, said: "Consumers are switching to digital payment methods at remarkable speed, choosing from an increasing array of digital wallets and other emerging methods to transact. Through continued innovation of our product suite, we have met this evolving customer need with an update to our Secure Digital Payments platform that can genuinely be described as 'digital payments 2.0.' The platform enables greater consumer choice across channels and digital payment methods whilst enabling contact centres to better serve customer needs.

Eckoh is already trusted by some of the largest global brands to ensure customer data and payments security. Our digital payments platform paves the way for further innovations to empower contact centres to meet the evolving needs of consumers, securely. We are well placed to capitalise on these favourable industry trends going forward."

*Source: "Consumer trends in digital payments" - McKinsey (October 21, 2022)

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About Eckoh plc

As a global provider of Customer Engagement Data Security Solutions, Eckoh is all about making the world of data more secure.

Our vision is that everyone should be able to trust every brand and engage without risk to their personal information. We're on a mission to set the standard for secure interactions between consumers and the world's leading brands, and our innovative products build trust and deliver value though exceptional experiences.

We're trusted by many of the world's leading brands to help them manage the personal data from customer enquiries and transactions safely. Our solutions enable payment transactions to be performed securely and help protect sensitive personal data across any customer engagement channel and device the customer chooses.

Protected by multiple patents, our solutions remove sensitive personal and payment data from contact centres and IT environments, as the best way to secure data is not to collect it. This allows organisations to be not just compliant but secure, increase efficiency, lower operational costs, and provide an excellent customer experience. This is our specialism.

Our solutions are delivered globally through multiple cloud platforms or can be deployed on the client's site. 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, and our extensive portfolio of typically large enterprise clients spans a broad range of vertical markets including government departments, telecoms providers, retailers, utility providers and financial services organisations.

For more information go to www.eckoh.com or email MediaResponseUK@eckoh.com.