Eckoh’s (ECK) full-year results to March – released in June – revealed “excellent progress” in US secure payments, with revenue up 179 per cent to $6.7m (£5.1m). And that progress shows no signs of waning; Eckoh has just signed its largest ever secure payments contract with “one of the largest corporations in the United States”. Its shares soared more than a tenth in reply.
The two-year deal is worth $7.4m. Eckoh’s ‘CallGuard’ tokenisation platform will be used across the customer’s entire US business – replacing real payment and private information with ‘placeholders’, safeguarding people’s personal data.
The deal should launch in the final quarter of this financial year, engendering a small contribution in FY2019 before bringing greater benefits over the successive two financial years.
For N+1 Singer, this win – the latest in a string with large US clients – instils confidence in Eckoh’s market positioning and momentum in US secure payments. The broker cites an addressable market of around 14,000 contact centres, noting Eckoh has “barely scratched the surface of this exciting opportunity”.
