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Eckoh lands London congestion charge contract extension

The deal will see Eckoh assist Capita in expanding its platform capabilities while streamlining and improving customer engagement via self-service applications

Eckoh PLC -

Eckoh PLC (LON:ECK) has secured a six-year contract extension worth £4mln to provide services relating to London’s congestion charge.

The provider of secure payment products and customer contact solutions said the contract extends the existing agreement with Capita PLC (LON:CPI) and Transport for London (TfL).

The extension is expected to see Eckoh deliver an expanded remit for the congestion charge service, providing customer contact centre solutions alongside the existing secure payments service.

The contract extension will span a far greater reach, Eckoh said, covering TfL's new work expanding into the low emissions zone and ultra-low emissions zone, planned for 2021 through to 2026.

These additional zones are expected to generate incremental use of Eckoh's services, as will the recent extension of the periods in which the charge applies; Capita will benefit from greater platform capacity under the new contract, ready to adapt to any new services required by TfL.

Nik Philpot, the chief executive officer of Eckoh, said Capita remains a key strategic partner and Eckoh’s relationship with it “plays a pivotal role in the growth of the business”.

"We have been greatly encouraged by the continued demand we have seen for the Eckoh proposition from both new and existing clients in recent months, which has enabled us to be very resilient in what remain uncertain times. Not only is this testament to the sophistication and breadth of our product offering, but also to the quality and energy of our partners such as Capita,” Philpot said in a statement.

"The renewal of our contract and scale of the deal gives us great confidence in the opportunities for Eckoh going forwards,” he added.

Quick facts: Eckoh PLC

Price: 66.5 GBX

AIM:ECK
Market: AIM
Market Cap: £168.78 m
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