Business
Trading Update & Contract Awards
Trading Update & Contract Awards.
About this update from Pci-pal Plc
[{"type":"text","content":"\n \nRNS Number : 3541Y PCI-PAL PLC 05 December 2017 \n\nPCI-PAL PLC\n('PCI Pal' or the 'Company')\nTrading Update and Contract Awards\nPCI 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.\nThe 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.\nThe 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.\nWilliam Catchpole, Chief Executive of PCI Pal, commented:\n\"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.\n\"I am extremely pleased with how the current financial year has started. The level of global enquiries we are receiving more ...