Skip to content
Search
AI Powered
Latest Stories

PayPoint CEO Nick Wiles pens new letter to retailers; outlines changes

Following his recent letter to retailers (see PayPoint CEO pens mea culpa to miffed merchants), PayPoint CEO Nick Wiles has written an update detailing several new business changes, "all driven by feedback from our retailer partners".

Wiles stresses he is acting on promises he made previously, explaining that "It is important to me that positive words are backed up by positive action – I trust that these changes reinforce my personal commitment to rebuild our relationships with you, engage with you more regularly and strengthen our proposition to deliver better products, service and value to you and your business."


The new changes he outlines are as follows:

1. Balance of contract charges

"Balance of contract charges are an area that our retailer partners have asked us to take action on. We have listened and will be reducing and simplifying the fees applicable when such charges apply. These changes are due to take effect in October this year and we hope this will give our retailer partners a more straightforward understanding of what to expect, whilst covering modest operational costs for the removal of devices and services from stores."

2. PPoS Service Fee

"Following feedback and consultation with our retailer partners, we are further simplifying the pricing model for our PPoS solution in stores, which will reduce existing service fees for a number of our retailer partners, as well as ease the introduction of fees for those that do not currently pay. We will shortly write to all PPoS retailers confirming details of this new model which will come into effect from September 2021."

3. Retailer Rewards App

"We have also recently launched the MyStore+ rewards app to all our retailer partners, who will now be able to access exclusive rewards, category advice, and up to date brand news. The partnership with McCurrach, a leading multi service marketing agency, has launched with exclusive offers enabling you to earn up to £29 for simply stocking certain products and scanning them on the app. This new development forms part of our broader commitment to strengthening our propositions to deliver better products, service and value to your business."

4. Snappy Shopper

"We have partnered with Snappy Shopper, the fast-growing home delivery app, to give our retailer partners the ability to offer customers a convenient home delivery and click and collect option. The PayPoint One system will integrate directly with the Snappy Shopper platform, meaning there is no need for additional kit or technology. There is a simple suitability check, designed to ensure that a store has the potential to operate a delivery service profitably, then retailers will benefit from a fast set-up process, customer service support seven days a week, and wide-reaching marketing support. Our partnership with Snappy Shopper supports local retailers to cater to the rising demand for fast, convenient fulfilment while future-proofing their business. As a PayPoint retailer partner, you will benefit from a 50% discount off the sign-up fee, subject to reaching pre-agreed performance criteria."

5. PayPoint Business Finance provided by YouLend

"We have also partnered with YouLend, an alternative business finance company, to provide PayPoint card payment retailer partners with fast and flexible funding offers. Eligible* retailers will now receive communications from PayPoint with their personalised pre-qualified funding offer, allowing them to apply online direct with YouLend for a lump sum of

funding.

"This type of fast and flexible funding can help retailers focus on growth, whether it’s creating new jobs, investing in new projects, buying stock or simply boosting cash flow. We have seen good early interest from our retailer partners, with applications already in the process of being approved.

"It’s quick and easy to apply online by visiting https://youlend.com/apply/paypoint/signup.

"Alternatively, you can call 0203 924 9983 or email paypointenquiries@youlend.com to find out more."

*Eligibility criteria will apply – only available to existing PayPoint card payment customers who have not signed up to Cardnet Net Settlement. Business must be trading for a minimum of six months and processing a minimum of £1,500 in card transactions per month. Two types of financing products are available:

1) Cash Advance – this is a sale of receivables only, not a loan.

2) Loan Advance – this product is only available to incorporated entities.

More for you

Two Liverpool shops fined for illegal vape sales
Photo: iStock

Two Liverpool shops fined for illegal vape sales

Two business owners have been slapped with fines after being found selling vapes to children at shops in Liverpool. Sanctions have been handed down to two men who appeared before Liverpool and Knowsley Magistrates Court on Thursday.

Zahur Chaudhary, of Challoner Grove, was hit with a £250 fine after he was found to have sold a watermelon flavoured Elf Bar vape pen to a person under 18 at AF Newsagents on July 11. Chaudhary was also hit with costs of £250 and a £120 victim surcharge by magistrates.

Keep ReadingShow less
Police officers in Trafalgar Square, London

Police officers in Trafalgar Square, London

Photo: iStock

New Respect Orders to target repeat perpetrators of anti-social behaviour

The government on Friday announced that they will introduce new Respect Orders as part of the Crime and Policing Bill.

The measure, a modernised version of the anti-social behaviour orders that were introduced by the last Labour Government, is aimed at the most serious offenders who plague town centres and neighbourhoods with anti-social behaviour.

Keep ReadingShow less
Exclusive: 'Faulty' pre-Horizon Post Office system led to hundreds of prosecutions

Exclusive: 'Faulty' pre-Horizon Post Office system led to hundreds of prosecutions

Ecco+, another pre-Horizon IT system that was introduced to post masters between 1992 and 1999, was also likely to be faulty due to which hundreds of sub postmasters were prosecuted by the Post Office, a leading sub postmaster representative has said.

Speaking to Asian Trader today (22), Calum Greenhow – Chief Executive Officer at National Federation of Sub Postmasters (NFSP) stated that Ecco+ system that was introduced between 1992 and 1999 also created problems for sub post masters.

Keep ReadingShow less
Bestway Foundation UK donates £100,000 to The Duke of Edinburgh’s Award

Bestway Foundation UK donates £100,000 to The Duke of Edinburgh’s Award

Lord Zameer Choudrey CBE SI Pk, Chief Executive of Bestway Group, and Dawood Pervez, Managing Director of Bestway Wholesale, presented a cheque for £100,000 to The Duke of Edinburgh’s Award (DofE) at Bestway Group’s Head Office in Park Royal, London last week.

This significant contribution reflects Bestway's ongoing commitment to supporting impactful charitable initiatives that make a difference to the lives of young people across the UK. The presentation was attended by Ruth Marvel OBE, Chief Executive Officer, Laura Puddefoot-Knaggs, Head of Philanthropy and Clare Harris, Senior Relationships Manager from The Duke of Edinburgh’s Award, and Bestway Board of Directors, including Sir Anwar Pervez OBE H Pk, Chairman Bestway Group.

Keep ReadingShow less
GroceryAid: supporting grocery colleagues over the festive season

GroceryAid: supporting grocery colleagues over the festive season

As we head into the busiest time of the year for the grocery industry, GroceryAid is urging people to reach out to them if they find themselves struggling.

The charity helps grocery workers and their families through difficult times and offers a range of financial, emotional and practical support. This includes support for people facing stress, anxiety, low mood or loneliness, as well as debt advice and impartial financial support through GroceryAid’s online financial hub.

Keep ReadingShow less