This week Dominic Taylor, Chief Executive and Director of the Board for PayPoint Plc, stepped down from his position remarking that he was proud of the legacy created from a “small startup to the scale and capability of the public company it is today.”
The company has grown enormously in the last 23 years since it was founded. Revenue for the company at the end of 2018 reached £213.5m (+5% from the previous year) as stated in the companies annual report.
Today over 28,000 retailers use PayPoint across the UK and Ireland and offer services like EPoS, card payments, parcels and ATMs. But will PayPoint really drive traffic to your store?
Earlier in the month, ACS (Association of Convenience Stores) and PayPoint formed a partnership to provide support and best practice to convenience stores across the UK. This combines the benefits of an ACS membership with using the PayPoint One in stores.
What Is PayPoint One?
PayPoint One is an electronic point of sale which is designed specifically for the convenience retail with integrated bill payment, card and parcel services. The system also includes a mobile app advertising that business owners can control their business from anywhere. The system looks to provide an all-in-one service to its customers with a focus on making things easier and efficient.
What Are Some Reviews From Retailers?
Retailers appear to be mixed in their reviews regarding the feedback about using PayPoint ePos in their stores. Many retailers have taken to review the company’s services on sites such as uk.trustpilot.com which have a number of detailed experiences from retailers.
Some retailers speak about their positive experiences with the company’s dedication to offer improvements for payment processing and optimising revenue. Integration with other software and host sites appear to be a dedicated part of the company’s agenda as many retailers have spoken about issues that were resolved by the PayPoint team regarding integration. Negative reviews include a lack of communication, especially when contacting the customer services team.
How To Drive Traffic In Store With PayPoint.
PayPoint has many joint ventures with the likes of Yodel,
Metacharge, SECPay where many customers need a local PayPoint in order to pay bills, collect parcels, send payments and much more. The PayPoint website will include your business in its search for your nearest PayPoint option for customers. This may draw customers to your store along with your physical signs and branding of the PayPoint company.
Applying to have your PayPoint appear on Google Maps may be a beneficial way to increase traffic as many consumers want to find their nearest PayPoint quickly.Rayburn Trading Tips
What Is The Future Of Retail With PayPoint?
We can see that PayPoint’s long term business goals lay within the EPOS industry and card payments. This is likely due to an uncertain future for the method of “top up and payment of bills service” which is gradually decreasing. Customers are preferring more and more to pay online as it’s hassle-free and more manageable for the user.
Additionally, with the increase in smart meters for utility payments, customers have a choice of paying via their local store or online. Even if this is the case for PayPoint, retailers need to pay attention to their customers and if they have noticed a move away from ‘top up’ towards online payments and new technology? Many consumers still prefer the safer, face-to-face,