PCI-PAL PLC on Monday said it has secured a re-tender of business with the UK government’s Department for Work & Pensions.
The secure payment solutions provider said the contract is worth £5 million over an initial three year term and includes an option for the DWP to renew for up to a further three years.
Ipswich-based PCI-PAL has been administering welfare, pensions, and child maintenance payments to the DWP ‘for a number of years’.
The ‘sizeable’ re-tender of the UK government contract builds on PCI-PAL’s public sector customer base.
Chief Executive Officer James Barham said: ‘Across the last six years, we have built up an enviable customer base across the public sector vertical in our key focus geographic regions. In the UK alone we have more than 100 local authority customers, as well as a number of the largest central government agencies.’
The AIM-listed company’s shares were 3.4% higher at 67.18 pence each on Monday afternoon.
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