PayPoint is a publicly traded British company that aims to streamline the entire payment system. The company was founded in 1996 and had its first payment network set-up in Northern Ireland. Since then, the company has expanded its business to include the markets of the United Kingdom, Ireland, and Romania.
Sections
Prices/Fees
The fees for various services that PayPoint provides are not clearly displayed on their website. For further details, you’ll need to request a quote from them. Anyhow, here’s what we’ve found.
PayPoint Merchant Accounts
PayPoint’s merchant account contracts are issued by Lloyds Bank Cardnet. The pricing for several types of packages they offer are as follow:
Base Package for existing merchants starts at £10 per week for one terminal and includes:
- Cloud-based office tools
- POS tablet
- Integrated card payments
- Numerous business services and solutions that PayPoint offers to merchants in their sphere
Base Package for new merchants starts at £15 per week for one terminal and includes the following:
- Includes everything in the Base Package plus EPOS Core
- Custom promotions
- Free cash drawer
- Product storage for quick scanning
- Shelf label creation
Core Package for new merchants includes one terminal and its starting price is £20 per week.
Product/Service Overview
PayPoint offers a variety of simple solutions for accepting payments face-to-face, online, or by phone. They offer their services, solutions, and products to retailers and service providers.
Solutions and Services
According to their official website, PayPoint provides various services and solutions across the United Kingdom, Ireland, and Romania:
EPoS or Electronic Point of Sale
EPOS is a digital payment system that aims to streamline the way businesses and retailers process payments, store data, and deal with customers.
PayPoint has developed and released a new generation device called PayPoint One that comes with integrated bill payments, card, and parcel services. Their aim is to streamline retail and enable its customers to save time while getting a deeper insight into their business and growing their profitability.
PayPoint One comes with a free mobile app that allows its users to connect to their store/stores in real-time.
Additionally, this cloud-based solution comes with a free payment card PIN pad. PayPoint also offers a 4-hour swap guarantee to their customers, although there are some caveats when it comes to that offer.
At the present time, over 18,000 retailers across the UK are using PayPoint One for:
Contactless Card Payments
Contactless card payments are fully integrated with PayPoint One and allow convenience retailers to service their customers with ease, quickly, and all while reducing the possibility of errors.
Bill Payments
PayPoint One offers retailers a chance to provide their customers with Bill Payment services and earn a commission while doing it. They give retailers free online access to commission statements, as well as additional training, special deals, and more.
Access to Parcel PickUp and Drop Off Network
The Collect+ PayPoint network allows its customers to collect, send, and return any parcel they wish. The service is currently available at over 10,000 stores in the United Kingdom.
Collect+ is partnered with high-profile carriers and online retailers, such as eBay, Amazon and Wish.com. It allows retailers to set up a system that will further allow their customers to collect online purchases, send, or return their parcels, all the while printing labels directly in-store.
The Collect+ is further enhanced with the Collect+ StoreScan app that allows retailers within the network to scan parcels going into or coming out of their stores with ease.
Cash Withdrawals
PayPoint Counter Cash and PayPoint ATMs can be installed as a part of any retail business, helping retailers provide much-needed service to their communities.
PayPoint Counter Cash was launched in late 2021, and it’s a service for consumers that allows them to gain access to their cash (from £0.01p to £50). Alternatively, consumers can also check their bank balance free of charge and without the need to make a purchase in the retail store they’re in.
PayPoint ATMs allow retailers to recycle their cash inventory and reduce subsequent banking charges while providing a vital service for their community and valued customers.
Selling SIM Cards
With the PayPoint SIM card system, retailers can earn an extra commission for each SIM card purchased in their retail environment. All major mobile networks are covered, and ordering SIM cards is made easy and comes with no charge to retailers. Retailers can also earn an extra commission for every top-up that occurs in their store/stores.
PayPoint Business Finance
PayPoint Loyalty Programme, available to retailers using various PayPoint services and packages, allows for funding from £1,000 – £1,000,000. This funding is accompanied by flexible repayment methods as offered by PayPoint partners – Funding Circle and YouLend.
Digital Shopper Marketing Platform
PayPoint also offers a Digital Shopper Marketing platform that modernizes the sales and marketing strategies of retailers in their network while making security and creativity a vital part of their mission.
With the Digital Shopper Marketing platform, retailers can more easily and directly engage with their customers and consumers.
Digital Payments With MultiPay
MultiPay by PayPoint is a digital payments solution that provides payment capabilities across multiple channels. Its goal is to reduce the administrative burden and free up resources while providing a cost-beneficial solution that will ultimately improve the efficiency of a particular business.
MultiPay is a spin on traditional card and Direct Debit services, which tries to reduce the cost of collections and increase payments of dues. It strives to add value to the retailer’s customer experience and offers additional options for payment integrations.
Digital E-Code
Digital E-Code is a way for local authorities to provide those less fortunate codes that will allow them to purchase various supplies, like food, clothing, and electricals. E-code can be received via email, sms, or regular mail/post.
PayPoint Digital E-code can be used for clothes purchases at the following stores:
- Primark;
- Sports Direct;
- TK Maxx;
- ASOS;
- H&M;
- M&S;
PayPoint Digital E-code can be used to receive food in the following stores:
- Asda;
- Morrisons;
- Tesco;
- Sainsbury’s;
PayPoint Digital E-code can be used to get electricals from the following stores:
- Argos;
- Currys;
To learn more about their digital E-codes and other offers, PayPoint encourages people to get in direct touch with them.
Company Background
PayPoint is a payment technology and services company that offers a range of solutions to businesses and consumers. It was founded in 1996, with the main goal behind it being to assist people in loading gas and electricity onto their prepaid meters at their local convenience stores. Since then, the business has vastly changed and grown and now includes many other services, products, and solutions.
Currently, their core business includes providing payment collection services, including bill payments and top-ups for mobile phones, prepaid cards, and e-wallets. They also offer multi-channel payment solutions for businesses, allowing them to accept payments via card, mobile, online, or in-person.
PayPoint also offers services such as parcel delivery and financial solutions. They have a parcel collection and delivery service called Collect+, and they offer a prepaid Mastercard called the PayPoint Card.
PayPoint operates in the UK, Ireland, and Romania. The company serves over 28,000 retail locations across those countries. They are listed on the London Stock Exchange and are a constituent of the FTSE 250 Index.
PayPoint is headquartered in Welwyn Garden City, Hertfordshire.
User Reviews From Around the Web
There are a large number of reviews available on the web for PayPoint that paint a picture of the user experience of this varied and large corporation.
- Trustpilot – 4.9 / 5 (based on 2,247 reviews)
- Glassdoor – 3.8 / 5 (based on 86 reviews)
- App Store Preview – 3.5 / 5 (based on 34 reviews)
Taking all reviews into account, PayPoint manages to achieve a score of 4.06 / 5 out of a total of 2,367 reviews.
PayPoint User Reviews
Review Summary
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