PCI-PAL PLC Strategic Partnership Driving Open Banking Opps
March 15 2022 - 3:00AM
RNS Non-Regulatory
TIDMPCIP
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 or follow the team on
Linkedin: https://www.linkedin.com/company/pci-pal/
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