PayPoint commission increases

electronic and digital services.

THE annual commission paid to retailers by PayPoint has increased by £162 to an average of £1,208 per site.

The 15% increase across 28,478 stores was revealed in the service provider’s annual results for the year ending 31 March 2023. The change was attributed by PayPoint to increased transactions and higher commission rates for

However, a PayPoint spokesperson said the rise was 25% when isolated to the 19,935 independent retailers within the estate, due to commission received from exclusive services such as Counter Cash.

“New services and transaction volumes have driven this positive impact to retailer partner revenues, including our Counter Cash solution, which is enabled in 5,680 sites, with 1,930 transacting regularly and £42.9m withdrawn in the financial year, and good growth in our consumer engagement proposition, PayPoint Engage, delivering brand campaigns leveraging our PayPoint One platform, advertising screens and i-movo vouchering capability.”

Chief executive Nick Wiles also provided an update on PayPoint’s latest partnership with the Fed. A targeted 1,500

Fed members have the opportunity to generate more than £1,000 a year selling gift cards for the Park Christmas Savings scheme.

Wiles said: “It’s still very early days, but we see it as a major opportunity. We conducted a pilot between March and May, and we learned quite a lot in that early stage. The scheme was launched formally two weeks ago and we’ve got 100 retailers signed up.”