3rd Feb 2022 10:06
(Alliance News) - PayPoint PLC said on Thursday its Counter Cash service continues to expand in the UK, having reached the 2,000 store milestone.
The Welwyn Garden City, England-based payment company said its Counter Cash service, which allows customers to withdraw cash for free in convenience stores without a purchase, is now in 2,000 stores across the UK. The service allows customers to check balances and withdraw amounts from 1 pence to GBP50, as opposed to ATMs which only allow notes to be withdrawn.
Last week, customers withdrew over GPB300,000 at an average value of GBP24.18. Participating retailers are paid for offering the service, and benefit from reduced banking charges.
PayPoint plans to expand the network of stores, and enhance support for participating retailers to drive customer adoption, as well as a campaign to boost consumer awareness.
The company's share price was down 0.7% to 650.79 pence each in London on Thursday morning.
"Counter Cash provides an incredibly convenient way for the millions of people who depend on cash to make withdrawals to a value of their choice up to GBP50. We are proud to be the first of LINK's members to launch and expand this service, making a real difference to local communities," said Nick Wiles, PayPoint Chief Executive Officer.
By Elizabeth Winter; [email protected]
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