PCI-PAL retains HMRC contract after competitive re-tender

(Sharecast News) - PCI-PAL said on Thursday that it had retained its contract with HM Revenue & Customs following a competitive re-tender process, securing a new initial eight-year agreement through one of its reseller partners. The AIM-traded secure payments technology provider said the deal was expected to generate revenue broadly in line with its existing HMRC contract, supporting long-term recurring revenue visibility and confidence in its growth outlook.

Chief executive James Barham said the renewal was "a resounding endorsement of our platform and our partner model," adding that PCI-PAL had now re-secured its three largest customers on new multi-year agreements since the start of FY25.

At 1007 BST, shares in PCI-PAL were up 4.55% at 46p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate