Proxama to provide "Virtual Pin Pad" in £0.1m deal with major European player

22nd Jul 2015 09:30

(ShareCast News) - Proxama announced a new contract with an unnamed "major European payment processor", set to generate £0.1m in the current financial year.The mobile commerce and marketing company will implement its "Virtual Pin Pad" in the deal, to cut costs and improve security while allowing users to change their pin using a mobile web browser.The software will replace the client's current system of sending PIN details by post, which requires more time and resources and is easier to intercept."This new contract award builds on our long term partnerships with clients and continues to demonstrate our ability to bring innovative solutions to the payment industry with substantial benefits for payment processors, issuing banks and their cardholders," said chief executive Mike Woods."We at Proxama are seeing this rapidly expanding adoption of PINs as a major area of growth for our company going forward," he added