PayPoint, the UK’s leading convenience retail bill payment network has secured a great new credit and debit agreement with Lloyds TSB, ensuring PayPoint retailers are offered the best deal on credit and debit card payments.  The new deal means that retailers will only pay a maximum of 1.4 per cent on credit card payments and 14p on debit card payments.

Credit and debit card users are proven to spend more money in-store than cash customers and retailers who offer this service usually see an increase in basket spend. As well as this, retailers can also save on banking costs, as the more card transactions they take the less cash they have to bank.

With a PayPoint terminal, retailers can accept the widest range of payment services, offer credit and debit facilities, cash back and save valuable counter space by having the compact all-in-one terminal.

Mike Igoe, PayPoint’s Retail Director commented: “Providing a credit and debit service to customers via PayPoint is a winning combination for retailers. With our quick application process, retailers taking advantage of this offer can be live within two weeks of signing up. These new rates are PayPoint’s best ever and we encourage our retailers to take advantage of this highly competitive offer. This new deal is part of our commitment to deliver the best value services to our retailers.”

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PayPoint
Enquiries:
PayPoint Press Office 
020 7100 9999
paypoint@mischiefpr.com

Notes to Editors
PayPoint is the leading cash and internet payments company in the UK also with operations in Ireland and Romania. We handle in excess of £7 billion from over 503 million transactions annually for more than 5,000 clients and merchants. The company operates with several payment networks:

• The PayPoint branded retail network numbers over 19,800 terminals located in local shops (including Co-op, Spar, Costcutter, Sainsburys Local, One Stop, Londis and thousands of independents) in all parts of the UK and Ireland. Terminals handle gas and electricity meter prepayments, cash bill payments, mobile phone top-ups, transport tickets, London Congestion Charges, TV licences and a wide variety of other payment types for all of the leading utilities, telecommunications suppliers and many consumer service companies. This network is used by consumers, free of charge, over 8 million times a week. The network has 99% population cover on a 1 mile urban or 5 miles rural measure;
• Multiple retailer connections into the electronic till systems of over 4,300 outlets in addition to the branded terminal outlets including BP, Somerfield and Superdrug for mobile top-ups and selected payments from the PayPoint range;
• An ATM network which has 2,016 ‘LINK’ branded machines across the UK, also typically in convenience stores; 
• PayPoint.net, an internet payment service provider, provides secure credit and debit card payments for over 4,800 web merchants linking into all the major UK acquiring banks; and
• Pay Store, a Romanian mobile top-up operator with over 4,000 outlets equipped with electronic terminals and 2,000 other retail outlets. A bill payment service has been added to increase the breadth of PayPoint’s offering in Romania, in line with the UK branded retail network.

PayPoint floated on the London Stock Exchange in September 2004 and the company’s market capitalisation at 13 June 2008 was £420 million. PayPoint is widely recognised for its leadership in prepayment systems, smart technology and consumer service.