New Contract Win

RNS Number : 6241U

Proxama PLC

31 July 2015

 

Proxama PLC

("Proxama" or the "Company")

New Contract Win

London, xx July 2015: Proxama PLC (AIM: PROX), the international mobile commerce Company specialising in proximity marketing and a provider of end-to-end payment solutions for card issuers and processors, is pleased to announce a new contract win with the South African franchise of the Standard Bank of South Africa-owned Diners Club. The contract commences in July 2015.

Proxama will supply its Payment Application Manager, EMV Transaction Manager and Proxama PIN Manager to the South African franchise, enabling them to manage smart card issuing, process transactions and securely handle and store customer information. Proxama will also provide Diners Club SA with a roadmap to mobile payments through its end-to-end cloud-based mobile management and processing solution, the Digital Enablement Platform.

Patrick Regester, EVP for Strategic Accounts and Partnerships of Proxama's Digital Payments Division comments: "This new contract win creates the opportunity for another long term partnership with an established and recognisable client, demonstrating our ability to bring new capabilities to the payment industry with substantial benefits for payment processors and their cardholders."

Ebrahim Matthews, Managing Director of Diners Club South Africa added: "We needed an EMV migration solution that integrated into our existing platforms while allowing us to further enhance the functionality we provide our members over time.  The Proxama solution fits perfectly into our environment and will allow us to transition to full EMV support with minimum disruption to our operation. We are looking forward to working with Proxama in the years ahead." 

Enquiries:

Proxama PLC Patrick Regester EVP Strategic Accounts and Partners	07802 863616
Peel Hunt LLP (Nominated Adviser and Broker)                Richard Kauffer Euan Brown	020 7418 8900
Novella Tim Robertson Ben Heath	020 3151 7008

About Proxama

·     Proxama is an international mobile commerce Company specialising in proximity marketing via mobile and providing end-to-end solutions for card issuers to migrate customers from magnetic stripe credit and debit cards to contactless mobile payments.

·     The technology to support mobile payments is now in place. 90% of the world's smartphones have technology to make mobile payments and in 2015 30 million contactless mobile payments are expected to be made compared to 3 million in 2014.

·     Proxama has been at the forefront of this market for the last 10 years. Today, Proxama's solutions are used by banks, financial institutions, loyalty companies, media owners, stadium owners, retailers and brands. Current clients include: Fiserv, Nets, Navy Federal Credit Union, Exterion Media, Harrods, Ubisoft, Gala and Argos.

·     The proximity marketing division focuses on connecting consumers to brands and retailers via Bluetooth Low Energy (BLE) beacon technology. Proxama establishes and owns beacon networks in high footfall locations such as City Centres, stadia, shopping malls and retail outlets, which are then able to communicate to consumers via messages to mobiles when the consumer is in close proximity to a beacon. The technology platform at the heart of this division is TapPoint®

·     The payments division manages end-to-end credit and debit cards solutions on behalf of financial institutions in the United States, Europe and the Middle East and specialises in enabling the migration of cards from magnetic stripe cards, to chip and pin cards and from contactless chip cards to mobile devices. The technology behind this division is Proxama's Digital Enablement Platform.

In December 2014, Proxama acquired Aconite Technology Limited:

·     Aconite has been delivering advanced payment solutions to card issuers, processors and service providers for more than ten years

·     Aconite established itself as a highly respected source of chip card management expertise in payments and other sectors, such as transport and ticketing, and as a specialist in the field of migrating credit cards from magnetic strip to contactless

·     Aconite's software portfolio now forms the core of Proxama's Digital Enablement Platform that delivers end-to-end support for EMV deployment to cards, contactless and mobile payments.

 

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