Pci-pal Regulatory News (PCIP)

PCI-PAL PLC

('PCI Pal' or the 'Company')

Major US Reseller Agreement and Contract Award

PCI Pal, the customer engagement specialist that secures and protects payment card data for companies handling payments by phone, is pleased to announce that it has won a further major reseller contract in the US, and this reseller has delivered its first US end-user contract.

The reseller contract is with a market leading provider of secure, multi-channel payment services in the North American market and they are part of the largest processor of payment cards for merchants in the United States. The reseller will be utilising PCI Pal's Amazon Web Services (AWS) platform to make secure payment solutions available to its significant customer base across North America, using both live agent-assisted and automated interactive voice response (IVR) contact centres.

This important reseller has also now delivered its first end-user customer contract for PCI Pal services. The customer is a large utility company with some 2.2 million electricity customers and around 1.2 million gas customers in the US.

William Catchpole, Chief Executive of PCI Pal, commented:

"This reseller agreement and utility contract win are further significant steps as we develop our channel sales business across the North American market. Leveraging PCI Pal's secure AWS platform, they will be able to deliver PCI compliant services which are seamlessly integrated to their customers' contact centre environments.

"Using a true cloud offering via AWS is a major differentiator for PCI Pal's secure payment solutions. The ease of integration via AWS and the interoperability of our solution with other third-party technologies mean that end-customers can be agnostic as to their choice of other vendors, and our solution does not require a change of telephony provision. 

"Our recent fund-raising has now given us the resources to further build our operations in the US and I am looking forward to further positive developments in North America over the coming months." 

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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 ("PCI DSS") Level 1 certified supplier of contact centre payment solutions and services, with operations in Europe and North America, enabling organisations to take customer payments securely over the phone, and to de-risk their business from the threat of data loss and cybercrime. 

PCI Pal solutions have been procured by 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.