Proxama announces 5 year contract with leading South African insurance provider

6th February 2017

London, 06 February 2017: Proxama PLC (AIM:PROX), the international digital and mobile commerce company specialising in end-to-end payment solutions for card issuers and processors, announces that a leading South African insurance and financial services provider, has signed a 5 year contract with Proxama Solutions Limited for the supply of in-house EMV card issuing, PIN management and card lifecycle management. Revenue earned from software licenses, services and support will be £0.365m in 2017 and a minimum of £0.691m in total over the five years, with additional payments if certain card capacity thresholds are achieved.

Proxama will supply Payment Application Manager for EMV card issuing, card lifecycle and key management, PIN Manager for electronic PIN capture and distribution, and EMV Transaction Manager for EMV transaction authentication and post-issuance control of EMV cards, including PIN changes and risk management.

Patrick Regester, EVP Sales and Marketing for Proxama’s Digital Payments Division comments: “We are delighted to have been selected as a partner. In addition to our tried and trusted software products that will support in-house EMV card issuing and processing, the customer will benefit from Proxama’s in-depth experience of smart card deployments in South Africa and around the world. Coming hot on the heels of successful deployment of the Proxama product suite at Diners Club SA, we are keenly anticipating working with this team to make this programme another success, further reinforcing our presence in the South African market.”