Founded in 1996 and headquartered in Welwyn Garden City, UK, PayPoint is a merchant account provider that began by offering gas and electric bill payment services. Since, it has expanded as a merchant account provider that offers retail, mobile, and online payment services for businesses and clients in the UK, Ireland, and Romania. Additionally, it has another office location in Bucharest, Romania.
Through its retail services platform, PayPoint One, it serves customers in more than 8,000 stores, giving a business the ability to accept contactless and online point-of-sales payments, as well as bill payment services. PayPoint works with clients of all sizes, providing cutting-edge payments technologies, such as its multichannel payments solution, MultiPay. s a one-stop shop for customer payments. It helps more than 500 consumer service providers to help customers pay for products and services via any channel and with any device. In June 2018, PayPoint partnered with UK digital banking service, Tide, to allow customers to deposit cash directly into their digital accounts at any of PayPoint’s 29,000 retailer locations.
Most importantly, PayPoint partners with Barclays for its bill payment services and with Lloyds CardNet, a very large UK bank, for its merchant account services.
Each year, PayPoint handles 818 million transactions, and 10 million people use its services each week. More than 10,000 retailers accept debit, credit, and contactless payments, and more than 6,000 Collect+ retailers.