PayPoint offers businesses, organisations and other bill-issuing authorities a highly cost-effective solution for the collection of cash payments from consumers.  PayPoint currently accepts payments in the UK and Ireland worth around €8.8 billion p.a. from an average of 8 million customer transactions each week.

Cash payers are here to stay
A significant and highly resistant minority prefer paying in cash with many adults still not using bank current accounts. Recent research even shows that many ‘banked’ consumers of all ages and social class also have an underlying preference for paying in cash wherever they can.

Being able to offer a free and convenient place to pay in cash not only improves the quality of customer service, but can also open up new business opportunities, for example, introducing pre-payment options where credit account underwriting restrictions prevent expansion into otherwise profitable market sectors.

A solution for every requirement
Versatility is a major strength of the PayPoint system. In addition to the acceptance of barcoded bills, documents and cards, PayPoint’s multi-function terminal also incorporates smart card readers which make it compatible with every type of energy pre-payment metering device. The PayPoint terminal also has a touch screen that is suited to processing E Voucher transactions.  It also has the unique added ability to re-charge contactless smart cards for transport industry ticketless travel schemes.

PayPoint’s in-house continuous software development programme also ensures that terminal applications are maximised. In addition to its nightly-polled ‘offline’ service for bill, budget card and energy pre-payment meter charging, PayPoint terminals are also able to issue E vouchers for instantaneous mobile phone and calling card top-ups.

Quality network coverage - nationwide
Using sound geo-demographic principles and a wealth of consumer payment pattern data, PayPoint is building a high quality, well distributed network of convenient outlets in Ireland to serve cash-paying customers. Since 2002 PayPoint has signed up the pick of local newsagents, convenience stores and supermarkets, all carefully selected for their location, long opening hours, local popularity and financial stability.

Proven business process
Behind the scenes, the well-established central processing and settlement systems at the heart of the PayPoint service deliver the highest possible standards of performance, 365 days of the year.

Daily polling of terminals, rapid overnight processing and prompt next-day transmission of payment files ensure that customers’ accounts can be updated within 24 hours of payments being made. This smooth operation regularly handles many hundreds of thousands of transactions a day, with ample additional capacity if required.

The collection and delivery of funds is equally well managed. Agents are direct debited every banking day and the resulting monies are settled gross to clients’ within a suitable timescale agreed between both parties.  PayPoint currently settles funds in the order of €7.5 billion p.a. and possesses an enviable record in the payments industry for minimising bad debt as a result of its rigorous agent accreditation procedure and stringent credit control.

The entire production process is fully backed-up by comprehensive business continuity provision, including a stand-by site for the immediate fail-over of all IT operations.