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31 March, 2021 - 09:22 By Tony Quested

Eckoh wins $11.6m of new US contracts

Payment products pioneer Eckoh plc is on a hot streak of contract wins through its novel US Secure Payments operation.

Since the start of September, $9.3 million of new contracts were signed, taking new contract value for US Secure Payments won so far this financial year to $11.6m – comfortably exceeding the FY20 total of $10.7m. 

The number of individual contracts won in the year is also the highest since Eckoh entered the US market – and this in defiance of the Covid pandemic.
Hemel-based Eckoh says the year has seen a significant positive swing in the number of contracts won and delivered through its Cloud platforms. 

Where possible, organisations have fast-tracked their plans to deploy in the Cloud – a trend accelerated by the circumstances of the pandemic. 

More than half the contract value Eckoh has won, and more than 80 per cent of the number of contracts, have been for Cloud delivery. This has seen Eckoh take a market leading position in the US.

The latest contract, won in March through a new partner, is worth a minimum of $1.35m and is to deliver services to one of the largest not-for-profit US healthcare corporations. 

This adds to the growing base of clients in the healthcare sector where Eckoh’s proven experience of delivery and our financial strength has been decisive.

The partnership with Intrado (originally West Corporation), was recently renewed until 2024. It delivered its first US contract win for Eckoh in 2016, and in the same year added a landmark deal with a Fortune 50 insurance company, which was recently renewed. 

The latest win in February for the partnership is a three-year contract for a Fortune 100 company, to secure both payments and personally identifiable information.

Eckoh CEO Nik Philpot said: “The excellent performance of Eckoh’s US Secure Payments business has been very satisfying, as it was one of the hardest hit in the first few months of the pandemic. 

“Despite those challenges, with record numbers of contracts signed and new contract value beating last year’s total, this clearly illustrates Eckoh’s momentum in the attractive secure payments market.

“It has also been great to see our commitment and investment into new sales channels paying dividends with significant sized deals coming through new partners, as well as our long-standing partnerships continuing to deliver high quality contracts. 

“We anticipate that the share of channel revenue will steadily increase over the coming years as the number of relationships we have grows and the penetration of those partners into their specialist areas builds.”

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