Proxama signs 5 yr deal with South African fin services provider

6th Feb 2017 08:43

(ShareCast News) - AIM-listed card payments company Proxama said a "leading" unnamed South African insurance and financial services provider, has signed a five year contract with for the supply of in-house Europay, Mastercard and Visa (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 said.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.Proxama shares rose 3.3% to 39p on the news at 0908 GMT.