Editing PayPoint

{{Short description|British business for multichannel payments and retail services}}
{{Infobox company
| name = PayPoint plc
| logo = PayPoint logo.svg
| type = [[Public limited company]]
| traded_as = {{lse|PAY}}
| foundation = 1996
| location = {{nowrap|[[Welwyn Garden City]], England}}
| num_locations = 16,098 retail networks (2020)
| key_people = Giles Kerr ([[Chairman]])<br> Nick Wiles ([[Chief executive officer|CEO]])
| industry = Payment systems
| products = 
| revenue ={{increase}} [[Pound sterling|£]]306.4 million (2024)<ref name=results>{{cite web|url=https://corporate.paypoint.com/downloads/annualreports/44758%20PayPoint%20AR24_WEB.pdf|title=Annual Report 2024|publisher=PayPoint|access-date=10 February 2025}}</ref>
| operating_income ={{increase}} [[Pound sterling|£]]56.3 million (2024)<ref name=results/>
| net_income = {{increase}} [[Pound sterling|£]]35.7 million (2024)<ref name=results/>
| num_employees =
| parent = 
| subsid = 
| homepage = {{URL|https://www.paypoint.com}}
| footnotes = 
}}
'''PayPoint plc''' is a British business offering a system for multichannel payments and retail services in [[United Kingdom]]. It is listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 250 Index]].

==History==

The PayPoint network was set up in 1996<ref name="britishgas.co.uk">{{cite web|url=http://www.britishgas.co.uk/youraccount/discover/home-energy-top-up-service.html|title=Home Energy Top Up|publisher=British Gas|access-date=10 April 2016}}</ref> with the aim of enabling customers to load gas and electricity onto their pre-paid energy meters in cash at their local convenience store. Prepayment meters are intended to help customers to manage energy use, thereby helping the environment, and control their spending, thereby enabling to live within their limited means.<ref>{{cite web|url=https://www.edfenergy.com/for-home/help-support/pay-as-you-go|title=Keep track of what you use and spend if you have a prepayment meter|work=EDF |publisher=EDF Energy|access-date=15 February 2017}}</ref> Typically about 40% of customers use prepayment meters for their electricity and gas: this percentage has remained roughly constant over the last five years.<ref>{{cite web|url=https://www.ofgem.gov.uk/chart/proportion-customers-repaying-debt-their-supplier-using-ppm|title=The proportion of customers repaying a debt to their supplier using prepayment meters|publisher=Ofgem|access-date=15 February 2017}}</ref> First tested in [[Northern Ireland]], the system was expanded to [[London]] in 1997 and in 1998, [[British Gas]] prepayment meter customers were able to charge their Quantum smart cards at PayPoint retailers.<ref name="britishgas.co.uk"/>

Following continued growth and public listing, in 2006, the company became the exclusive cash payment network for the BBC's [[Television licence|TV Licence]] fee.<ref>{{cite web|url=http://www.bbc.co.uk/pressoffice/pressreleases/stories/2006/03_march/31/tvl.shtml|title= BBC appoints PayPoint for 'over-the-counter' contract|publisher=BBC|access-date=10 April 2016}}</ref> In November 2006 and February 2007, PayPoint acquired [[online payment]] service providers Metacharge and SECPay respectively.<ref>{{cite web|url=http://www.24dash.com/news/Central_Government/2007-02-26-PayPoint-acquires-SECPay-Limited|title=PayPoint acquires SECPay Limited|publisher=24 Dash|access-date=10 April 2016}}</ref> In September 2010, PayPoint completed the acquisition of Verrus,<ref>{{cite web|url=http://www.growthbusiness.co.uk/news-and-market-deals/mergers-and-acquisitions/1203663/paypoint-buys-verrus-.thtml|title=PayPoint buys Verrus   |date=5 March 2010 |publisher=Growth Business|access-date=10 April 2016}}</ref> a pay-by-phone parking payment provider and re-branded in [[North America]] and [[Europe]] under the brand name, PayByPhone.<ref>{{cite web|url=http://www.parkingtoday.com/webinars/18_presentation.pdf|title=Presentation|publisher=Parking Today|access-date=10 April 2016}}</ref> In May 2014, PayPoint.net and PayByPhone were merged under a single identity, PayPoint Mobile and Online.<ref>{{cite press release|url=http://inpublic.globenewswire.com/2014/05/20/PayPoint+plc+PayPoint+reveals+plans+for+multi+channel+future+with+merged+mobile+and+online+business+and+new+group+brand+HUG1787186.html|title=PayPoint reveals plans for multi-channel future with merged mobile and online business and new group brand|publisher=GlobeNewswire|access-date=10 April 2016}}</ref>

In March 2024, PayPoint partnered with Lloyds Bank.<ref name=":0" /><ref name=":1">{{Cite web |last= |first= |date=2024-03-20 |title=Paypoint and Lloyds Banking Group extend cards partnership agreement |url=https://www.morningstar.co.uk/uk/news/AN_1710924250656249400/http%3a%2f%2fwww.morningstar.co.uk%2fvirtual%2fSolrNews%2fAllianceNews.aspx%3fSite%3duk%26DocId%3dAN_1710924250656249400 |access-date=2024-04-02 |website=MorningstarUK |language=en-GB}}</ref> It was announced that Lloyds Bank would be the main card acquiring partner for PayPoint.<ref name=":0">{{Cite web |date=20 March 2024 |title=Lloyds Bank, PayPoint strike cards partnership |url=https://www.reuters.com/business/finance/lloyds-bank-paypoint-strike-cards-partnership-2024-03-20/ |access-date=2 April 2024 |website=Reuters}}</ref><ref name=":1" />

==Operations==
[[File:PayPointLogo.svg|thumb|upright|The PayPoint branding in use on most stores]]
PayPoint provides multi-channel payment for clients – Open Banking, direct debit, cards and cash. In most cases, PayPoint's fees are usually paid by the payee organisation rather than by the payer, the notable exception being deposits into [[Monzo (bank)|Monzo]] bank accounts, for which Monzo deducts a £1 fee from the deposited amount.<ref>{{Cite web|url=https://monzo.com/blog/2018/11/21/deposit-cash/|title=You can now pay cash into your Monzo account!|website=monzo.com|date=21 November 2018 |language=en|access-date=26 February 2020}}</ref>

==Collect+==
In February 2011, Collect+ a parcel sending and collection service, was launched as a joint venture between PayPoint and [[Yodel (company)|Yodel]].<ref>{{cite web|url=http://www.retailtimes.co.uk/tag/paypoint/|title=Paypoint|publisher=Retail Times|access-date=10 April 2016}}</ref> This service is available through almost 6,000 of the PayPoint retail network in the [[United Kingdom]] and allows customers to collect and send packages at their local convenience store.<ref>{{cite web|url=https://www.collectplus.co.uk/selling-online|title=Business Courier - Marketplace, SME & Large - CollectPlus|publisher=Collect Plus|access-date=10 April 2016}}</ref>

On 6 April 2020, PayPoint announced an agreement with Yodel to take full ownership of Collect+.<ref>{{Cite web|title=PayPoint|url=https://www.corporate.paypoint.com/news/635|access-date=2021-04-13|website=www.corporate.paypoint.com}}</ref><ref>{{Cite web |last=Rees |first=David |date=2020-04-06 |title=PayPoint takes full ownership of Collect+ parcel network |url=https://www.conveniencestore.co.uk/your-business/paypoint-takes-full-ownership-of-collect-parcel-network/603730.article |access-date=2024-03-28 |website=Convenience Store |language=en}}</ref>

In February 2024, PayPoint partnered with [[Royal Mail]] and its Collect+ service.<ref>{{Cite web |date=2024-02-22 |title=PayPoint and Royal Mail announce partnership |url=https://finance.yahoo.com/news/paypoint-royal-mail-announce-partnership-070000602.html |access-date=2024-04-02 |website=Yahoo Finance |language=en-US}}</ref><ref>{{Cite web |last= |first= |date=2024-02-22 |title=PayPoint signs multi-year partnership with Royal Mail |url=https://www.morningstar.co.uk/uk/news/AN_1708612403491504500/http%3a%2f%2fwww.morningstar.co.uk%2fvirtual%2fSolrNews%2fAllianceNews.aspx%3fSite%3duk%26DocId%3dAN_1708612403491504500 |access-date=2024-04-02 |website=MorningstarUK |language=en-GB}}</ref>

==References==
{{reflist|30em}}

==External links==
*{{official website|https://www.paypoint.com}}
{{FTSE 250 Index constituents}}
{{Digital payment providers}}
{{Authority control}}

[[Category:Financial services companies of the United Kingdom]]
[[Category:Payment service providers]]
[[Category:Companies based in Welwyn Hatfield]]
[[Category:Financial services companies established in 1996]]
[[Category:Companies listed on the London Stock Exchange]]
[[Category:Companies in the FTSE 250 Index]]
[[Category:1996 establishments in the United Kingdom]]
[[Category:Companies established in 1996]]
[[Category:Payment systems]]
[[Category:British companies established in 1996]]