PayPoint

PayPoint plc is a British company that provides multichannel payment and retail services across the United Kingdom. Founded in 1996¹, the company facilitates payments through a nationwide network of convenience stores and offers services including bill payment, mobile phone top-ups, parcel delivery and collection, and Open Banking integrations. Paypoint is publicly listed on the London Stock Exchange.

PayPoint plc is a British company that provides multichannel payment and retail services across the United Kingdom. Founded in 1996, the company facilitates payments through a nationwide network of convenience stores and offers services including bill payment, mobile phone top-ups, parcel delivery and collection, and Open Banking integrations. Paypoint is publicly listed on the London Stock Exchange. ==History== The PayPoint network was set up in 1996 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. Typically about 40% of customers use prepayment meters for their electricity and gas: this percentage has remained roughly constant over the last five years. 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. Following continued growth and public listing, in 2006, the company became the exclusive cash payment network for the BBC's TV Licence fee. In November 2006 and February 2007, PayPoint acquired online payment service providers Metacharge and SECPay respectively. In September 2010, PayPoint completed the acquisition of Verrus, a pay-by-phone parking payment provider and re-branded in North America and Europe under the brand name, PayByPhone. In May 2014, PayPoint.net and PayByPhone were merged under a single identity, PayPoint Mobile and Online. In March 2024, PayPoint partnered with Lloyds Bank. It was announced that Lloyds Bank would be the main card acquiring partner for PayPoint. ==Services and operations== ===International operations=== PayPoint established PayPoint Ireland Limited in 2003¹ to operate a retail payment network in the Republic of Ireland. In May 2007, the company entered the Romanian market through the acquisition of the local payment network Paystore from RTC Group. In October 2017, PayPoint expanded its presence in Romania by acquiring the local operations of Payzone. In October 2018, PayPoint withdrew from the Republic of Ireland and ceased all retail terminal services in the country. In October 2020, PayPoint signed an agreement to sell its Romanian subsidiary to the private equity firm Innova Capital. The transaction was completed in April 2021. ==References== ==External links==

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