Eckoh secures two new 20-year US patents

RNS Number : 9764V

Eckoh PLC

09 November 2017

 

RNS Reach

9 November 2017

Eckoh plc

Eckoh secures two new 20-year US patents underpinning US payments revenue and delivering payment innovation

-     US Patent and Trademark Office to award Eckoh two further patents for its unique secure payment solution CallGuard

-     First patent will be granted for its tokenisation solution for card and personal data

-     Second patent will enable Eckoh to strengthen security for phone payments using voice biometrics

Eckoh plc (AIM:ECK), the global provider of secure payment products and customer contact solutions, has received notification from the US Patent and Trademark Office that two new 20-year patents will be granted for Eckoh's industry-leading contact centre security solution, CallGuard.

In 2015, Eckoh was awarded a US patent for part of its CallGuard offering but these new awards will ensure that all current Eckoh US payments revenue and future contracted payments revenue will be protected by at least one Eckoh patent. With over $13m of US payments contracts having been won in the last 18 months, and the US market growing rapidly, this protection of Eckoh's intellectual property is strategically vital in ensuring we continue to lead this key market.

CallGuard offers contact centres a simple way to take payments securely, complying with PCI DSS requirements and prevents payment card data from entering the contact centre environment. This action minimises risk against the increasing problem of card-not-present ('CNP') fraud, the cost of which reached $5.2 billion in the US in 2016^[1] and is projected to rise to $7 billion by 2020^[2].

The first new CallGuard patent to be awarded is for Eckoh's tokenisation process which automatically replaces real card payment data or other personal data such as Social Security numbers with valueless 'placeholders' thereby encrypting and protecting customer's sensitive data. These placeholders can flow safely through a contact centre's telephony and data networks, reducing the risk of hacking and ensuring agents are not exposed to customers' sensitive data.

The second US patent that will be awarded is for transformational technology that not only provides a secure way for merchants to take a phone payment but also identify potentially fraudulent callers. Eckoh's advancement here uses both voice biometrics to authenticate a caller, and a phone 'footprint' to authenticate the caller's mobile device. This dual authentication mechanism will provide an even more secure way for merchants to authenticate that the caller is the genuine cardholder. Today, a fraudster may be in possession of stolen card details, but they are highly unlikely to pass a voice biometric check and to also be calling from the cardholder's own mobile phone. As such, Eckoh's new-patented approach could reduce the risk of CNP fraud substantially.

Nik Philpot, Eckoh's Chief Executive Officer, said: "Our US payments business has seen huge momentum in recent years, and so we are particularly pleased to secure these two new CallGuard patents within the biggest global market for our technology. Eckoh continues to make significant advancements to keep customers' data safe within contact centres. These awards confirm that Eckoh remains at the forefront of contact centre security and is testament to the depth of technical talent we have in the company, as we continue to produce innovative products that we can then commercialise."

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For more information, please contact:

Eckoh plc
Nik Philpot, Chief Executive Officer	Tel: [phone]
Chrissie Herbert, Chief Financial Officer
www.eckoh.com
FTI Consulting LLP	Tel: [phone]
Ed Bridges / Chris Lane / Emma Hall / Darius Alexander
[e-mail]
N+1 Singer (Nomad & Joint Broker)
Shaun Dobson, Lauren Kettle	Tel: [phone]
www.n1singer.com
Berenberg (Joint Broker)
Ben Wright, Chris Bowman, Amritha Murali	Tel: [phone]
www.berenberg.de/en

References & further information

[1] Statista.com [2] Aite Group

eGUIDE: The Definitive Guide to PCI DSS

http://www.eckoh.com/application/files/7115/0417/2606/PCI_DSS_Definitive_Guide_UK.pdf

eGUIDE: The rise in CNP crime in contact centres http://www.eckoh.com/application/files/7815/0149/4553/CNP_Guide_2017_-_UK.pdf

VIDEO: CallGuard - de-scopes your entire call centre from PCI DSS

https://www.youtube.com/watch?v=btStgLu2OiE

 

 

About Eckoh plc

Eckoh is a global provider of secure payment products and customer contact solutions, supporting an international client base from its offices in the UK and US. 

Our secure payments products, which include the patented CallGuard, can be hosted in the cloud or deployed on the client's site and remove sensitive personal and payment data from contact centres and IT environments. The products offer merchants a simple and effective way to reduce the risk of fraud, secure sensitive data and become compliant with the Payment Card Industry Data Security Standards ("PCI DSS") and wider data security regulations. Eckoh has been a PCI DSS Level One accredited Service Provider since 2010, processing over £1.5bn in card payments annually.

Eckoh's customer contact solutions enable enquiries and transactions to be performed on whatever device the customer chooses, allowing organisations to increase efficiency, lower operational costs and provide a true Omni-channel experience. We also assist organisations in transforming the way that they engage with their customers by providing support and transition services as they implement our innovative customer contact solutions.

Our large portfolio of clients come from a broad range of vertical markets and includes government departments, telecoms providers, retailers, utility providers and financial services organisations. More information at www.eckoh.com.

About PCI DSS compliance

PCI DSS is the Payment Card Industry Data Security Standard and this is a worldwide standard that was set up to help businesses process card payments securely and reduce card fraud. The way it does this is through tight controls surrounding the storage, transmission and processing of cardholder data that businesses handle. PCI DSS is intended to protect sensitive cardholder data. For more information please see: www.pcisecuritystandards.org 

 

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