• Secure payments provider specialising in card-not-present transactions
• Also has products designed to manage multi-channel customer communications more efficiently
• Processes around £800mln in card payments every year for clients
What Eckoh does
CNPs are payments usually made either over the phone, online, or through mobile devices without face-to-face contact or verification. The company processes around £800mln in card payments every year for its customers.
Eckoh also offers customer service solutions that allow client companies to manage their multi-channel customer communications more efficiently.
The firm’s products allow the client’s customers to self-serve (i.e. make enquiries, retrieve information, and make payments) through automated processes, which can help remove burdens from call centres and other advisors, which helps cut down on operational costs and reduce customer enquiry queue.
These products include systems like chatbots, which are loaded with pre-set responses to queries, as well as social media management that can track comments made about companies online across platforms like Facebook and Twitter.
• In a trading update in March, Eckoh said it had secured more than £10mln in new contracts since the end of September – the halfway point of the company’s fiscal year
• In November, the company said its fiscal year-to-date (from 1 April 2018) contracted business had exceeded the £15.3mln of contracted business for the whole of the previous year
• In October, the group bagged its biggest ever secure payments contract, sealing a two-year deal worth US$7.4mln with one of the largest corporations in the US
Speaking in March, Eckoh's chief executive Nik Philpot said momentum from the first half of its fiscal year had continued into the second half with “multiple new contract wins, alongside key renewals, which underpin future market forecasts”.
“These contract wins, with such well-known enterprises, reflects Eckoh's position as the preferred supplier for the largest companies.”
“We have also made excellent progress with key strategic initiatives, such as establishing a market leading position in Cloud delivery for Secure Payments, the ongoing development of our Omnichannel solution and broadening our partner relationships to accelerate our penetration of our key markets," he added.
With shares trading at around 38.7p as of 2 April 2019, Eckoh has a market cap of £97mln.