 | |
| Company type | Public limited company |
|---|---|
| LSE: PAY | |
| Industry | Payment systems |
| Founded | 1996 |
| Headquarters | Welwyn Garden City, England |
Number of locations | 16,098 retail networks (2020) |
Key people | Giles Kerr (Chairman) Nick Wiles (CEO) |
| Revenue |  £306.4 million (2024)[1] |
| £56.3 million (2024)[1] | |
| £35.7 million (2024)[1] | |
| Website | www |
PayPoint plc is a British company that provides multichannel payment and retail services across theUnited 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 theLondon Stock Exchange and is a constituent of theFTSE 250 Index.
The PayPoint network was set up in 1996[2] 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.[3] Typically about 40% of customers use prepayment meters for their electricity and gas: this percentage has remained roughly constant over the last five years.[4] First tested inNorthern Ireland, the system was expanded toLondon in 1997 and in 1998,British Gas prepayment meter customers were able to charge their Quantum smart cards at PayPoint retailers.[2]
Following continued growth and public listing, in 2006, the company became the exclusive cash payment network for the BBC'sTV Licence fee.[5] In November 2006 and February 2007, PayPoint acquiredonline payment service providers Metacharge and SECPay respectively.[6] In September 2010, PayPoint completed the acquisition of Verrus,[7] a pay-by-phone parking payment provider and re-branded inNorth America andEurope under the brand name, PayByPhone.[8] In May 2014, PayPoint.net and PayByPhone were merged under a single identity, PayPoint Mobile and Online.[9]
In March 2024, PayPoint partnered with Lloyds Bank.[10][11] It was announced that Lloyds Bank would be the main card acquiring partner for PayPoint.[10][11]
PayPoint provides multi-channel payment solutions across the United Kingdom, including Open Banking, direct debit, card, and cash based transactions. Its services are widely used for utility bill payments, mobile top-ups, and public transport ticketing, through a network of more than 28,000 retail outlets.[12]
In most cases, the service fees are paid by the payee organizations rather than the customer. A notable exception is cash deposits toMonzo bank accounts, where a £1 fee is deducted from the deposited amount.[13]
In February 2011, Collect+ a parcel sending and collection service, was launched as a joint venture between PayPoint andYodel.[14] This service is available through 14,000 of the PayPoint retail network in theUnited Kingdom and allows customers to collect and send packages at their local convenience store.[15]
On 6 April 2020, PayPoint announced an agreement with Yodel to take full ownership of Collect+.[16][17]
In February 2024, PayPoint partnered withRoyal Mail and its Collect+ service.[18][19]
