Cost-Effective Cash Payment Collection
PayPoint offers businesses, organisations and other bill-issuing authorities a highly cost-effective solution for the collection of cash payments from consumers. Already serving many highly satisfied clients in the energy, telecoms, water, TV, cable, transport, leisure, local authority and mobile telephony sectors, PayPoint currently handles over £11 billion from over 600 million transactions annually for more than 5,000 clients and merchants.
Cash payers are here to stay
A significant and highly resistant minority prefer paying in cash. Around 18% of UK adults still do not use bank or building society current accounts. Recent research even shows that many ‘banked’ consumers of all ages and social class also have an underlying preference for paying in cash wherever they can.
Being able to offer a free and convenient place to pay in cash not only improves quality of customer service, but can also open up new business opportunities, for example, introducing pre-payment options where credit account underwriting restrictions prevent expansion into otherwise profitable market sectors.
A solution for every requirement
Versatility is a major strength of the PayPoint system. In addition to the acceptance of barcoded bills or documents and magnetic swipe cards, PayPoint’s multi-function terminal also incorporates smart key and smart card readers which make it compatible with every type of energy pre-payment metering device. A new generation of PayPoint terminal was introduced in 2004 that is unique in its added ability to re-charge contactless smart cards for transport industry ticketless travel schemes.
PayPoint’s in-house continuous software development programme also ensures that terminal applications are maximised. In addition to its nightly-polled ‘offline’ service for bill, budget card and energy pre-payment meter charging, PayPoint also operates ‘online’ services for instantaneous mobile phone top-up. Terminals are also able to issue E vouchers and authorise retailers’ credit and debit card transactions.
Quality network coverage - nationwide
Using sound geo-demographic principles and a wealth of consumer postcode and payment pattern data, PayPoint has built a high quality, well distributed network of convenient outlets in the UK to serve cash-paying customers. Since 1997, PayPoint has signed up the pick of local newsagents, convenience stores, supermarkets and garages, all carefully selected for their location, long opening hours, local popularity and financial stability.
For clients such as mobile phone companies who seek the maximum number of top-up points for their pre-payment customers, the network is continually being extended by the addition of retail outlets processing transactions via their EPOS systems at each till.
