PayPoint, the UK’s leading cash and internet payments company and i-movo, the digital voucher specialists have signed a commercial agreement to allow PayPoint retailers to accept i-movo vouchers.
Under the agreement, PayPoint will be the sole branded convenience retail network partner working with i-movo to have branded presence across the entire estate. i-movo vouchers offer consumer discounts and outright payment against product purchases. The PayPoint network will be able to process vouchers distributed by i-movo, whether by text message or encoded on contactless and magnetic stripe cards. Electronic settlement of the vouchers will be via PayPoint’s existing financial relationships with its retailers.
i-movo’s market-leading, digital voucher distribution system has already been used in campaigns for BP, Coke, the Daily Mail, Diageo, Financial Times, Nectar, Nestle, Nike, Martin McColls, Roadchef and The Times. It is also the platform chosen by the Evening Standard to run the Eros Card, the world’s first dedicated contactless payment card for newspapers, launched in September.
David Tymm, i-movo’s CEO said: “We estimate about a third of all newspapers sales in the UK are through PayPoint outlets. PayPoint outlets also account for significant volume in other categories such as confectionary, drinks and snacks. Extending our retail footprint to cover PayPoint outlets offers consumer brands a ready-made national network to run digital voucher and cashless payment schemes that embrace both branded and independent retailers. “
Dominic Taylor, PayPoint Chief Executive commented: “Our focus is to launch innovative and creative applications that can attract a wide spectrum of consumers in to PayPoint outlets, to satisfy their day-to-day shopping needs. PayPoint is excited by the potential that its national network can deliver to the many major consumer brands wishing to promote and distribute their products using e-coupons be that through independents or exclusive activities for our many multiple and symbol retail chains”.
Notes to Editors:
PayPoint is the leading cash and internet payments company in the UK and Ireland, handling in excess of £5 billion in over 400 million transactions annually for more than 5,000 clients and merchants. The company operates with several significant payment streams:
The PayPoint branded retail network numbers over 18,500 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, BBC 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 7 million times a week. The network has 97.3% population cover on a 1 mile urban or 5 miles rural measure;
Additional multiple retailer connections into the electronic till systems of nearly 4,000 outlets including BP, Somerfield and Superdrug for mobile top-ups and selected payments from the PayPoint range;
The PayPoint ATM network has 1,979 ‘LINK’ branded machines across the UK, also typically in convenience stores;
PayPoint Internet Payment Services (PPIPS), trading as Metacharge and SECPay, provides secure credit and debit card payments for over 4,000 web merchants linking into all the major UK acquiring banks; and
PayPoint International has recently acquired a Romanian mobile top-up operator to which a bill payment service will be added, emulating the UK branded retail network. PayPoint International also operates Irish bill payment and top-up services.
PayPoint floated on the London Stock Exchange in September 2004. The company’s market capitalisation at 25 March 2007 was £464 million. PayPoint has been awarded the Queen’s Award for Enterprise and is widely recognised for its leadership in prepayment systems, smart technology and consumer service.