20th May 2014 10:00
LONDON (Alliance News) - PayPoint PLC Tuesday said it has combined two of its businesses as it looks to enable organisations to give their customers more choice in where, when and how they pay for services.
In a statement, PayPoint said it has merged its internet payment service provider and mobile phone payment businesses to form PayPoint Mobile and Online, which will deal with transactions from start to finish, from engaging consumers to processing payments.
The managing director of the combined business, Dan Salmons, said many organisations are finding that they need more sophisticated payment methods in order to keep up with changes in technology, consumer behaviour and regulation.
"By combining our unrivalled expertise in mobile and online payments, we can manage payments from app to bank, making it simple for organisations to resolve their payment needs. Our modular platform means we can rapidly develop a wide range of solutions from home energy to urban mobility, online gaming to financial services. We believe we are that rare thing: a payments company that gets consumers, and a mobile company that gets payments," Salmons said in a statement.
The combination of PayPoint's internet payment service provider and mobile phone payment businesses marks its move to develop so-called multi-channel payment proposition - which allow for mobile, online or retail payments. Although PayPoint already has a 36,000-strong retail network across the UK, Ireland, and Romania, it wants them to complement them with its new mobile and online business.
One of the first applications of the new-look PayPoint will be 'smart metering', enabling energy providers to give their customers a choice of paying in cash, via mobile or online.
The newly created business has offices in London, Bath, Welwyn Garden City, Paris, New York, and Vancouver, and boasts 7 million customer registrations for its mobile services. It handles almost GBP5 billion in consumer payments a year.
PayPoint shares were Tuesday quoted at 1,094.00 pence, down 0.1%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Paypoint