London, 06 February 2017: Proxama PLC (AIM:PROX), the international digital and mobile commerce company specialising in end-to-end payment solutions for card issuers and processors, announces that a leading South African insurance and financial services provider, has signed a 5 year contract with Proxama Solutions Limited for the supply of in-house 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 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.