RCS - PCI-PAL PLC - Strategic Partnership Driving Open Banking Opps

PCI- PALAnnouncement

15/03/2022 07:00

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RNS Number : 7107E  PCI-PAL PLC  15 March 2022

 

RNS Reach - non regulatory announcement

 

PCI-PAL PLC
("PCI Pal", "the Company" or "the Group")
New Strategic Partnership Driving Open Banking Product Opportunities

 

PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions
for business communications, is pleased to announce a partnership with
TrueLayer, the international fintech provider of open banking solutions.
Over time the partnership will see PCI Pal make a range of open banking
services available to its partner ecosystem and direct customer-base.

 

Through its integration to TrueLayer's open banking platform, PCI Pal will be
initially adding open banking payment capabilities to its existing suite of
secure solutions that cover the entire omnichannel mix found in contact
centres today.  The first products are expected to launch in the next few
months with the new services empowering PCI Pal customers to offer additional
payment options to consumers as well as making their payment processes faster,
safer and more cost effective.

 

Open banking payments allow a seamless and instantaneous payment experience
for both the business and consumer, with funds moving between the parties'
banks virtually instantaneously. Risks of fraud and chargebacks(1) are also
greatly reduced as a result of the Know Your Customer ("KYC") checks that are
an inherent part of the open banking payment process. Today, open banking is
being adopted across Europe, with progress being made in many other regions
globally including Canada, Australia, and more recently the US, as the
traditional banking market continues to adopt the flexibility of digital
banking capabilities.

 

Commenting on the partnership, James Barham, Chief Executive Officer of PCI
Pal, said:

 

"In the last five years, PCI Pal has built up an enviable customer-base, with
more than 400 companies using our solutions across multiple continents. We
have built up the strongest partner eco-system in our market through our
dedication to a partner-first business model and a globally available
true-cloud solution suite. As a result, we now play an important role in the
facilitation of payments within business communications environments for our
partners and customers alike.

 

"Leveraging this position, we aim to bring the most modern payment technology
to our ecosystem, providing our customers with increased choice for optimising
revenues, whilst meeting the demands of consumers in the ever-evolving digital
payments landscape.

 

"This new partnership, with one of the leading brands globally in the open
banking space, is hugely exciting for PCI Pal as we continue to evolve our
product-set and capabilities to build on the foundations we have put in place
over the last five years.  We look forward to updating customers, partners,
and investors as we make further progress with new product initiatives."

 

 

(1) Chargebacks are a demand by a credit-card provider for a merchant (a
company processing payments) to make good the loss on a fraudulent or disputed
transaction to a consumer.

 

 

For further information, please contact:

 

 PCI-PAL PLC                                 Via Walbrook PR
 James Barham - Chief Executive Officer

 William Good - Chief Financial Officer

 finnCap (Nominated Adviser and Broker)      +44 (0) 20 7227 0500
 Marc Milmo/Simon Hicks (Corporate Finance)

 Richard Chambers (Corporate Broking)

 Walbrook PR                                 +44 (0) 20 7933 8780
 Tom Cooper/Nick Rome                        +44 (0) 797 122 1972
                                             PCIPAL@walbrookpr.com

 

About PCI Pal:

 

PCI Pal is a leading provider of Software-as-a-Service ("SaaS") solutions that
empower companies to take payments from their customers securely, adhere to
strict industry governance, and remove their business from the significant
risks posed by non-compliance and data loss. Our products secure payments and
data in any business communications environment including voice, chat, social,
email, and contact centre. We are integrated to, and resold by, some of the
worlds' leading business communications vendors, as well as major payment
service providers.

 

The entirety of our product-base is available from our global cloud platform
hosted in Amazon Web Services ("AWS"), with regional instances across EMEA,
North America, and ANZ.

 

For more information visit www.pcipal.com (http://www.pcipal.com) or follow
the team on Linkedin: https://www.linkedin.com/company/pci-pal/
(https://www.linkedin.com/company/pci-pal/)

 

 

 

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