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As PayPoint rolls out its new three-in-one PayPoint One terminal, the company’s chief executive, Dominic Taylor, and founder, Tim Watkin-Rees, spell out the retailer benefits and how it is working to address concerns about poor service.
Retail Newsagent: What sets PayPoint One apart from its competitors?
Tim Watkin-Rees: The user interface is fantastic. It has an 11.6 inch screen which is highly responsive. This is a dynamic product and we will be releasing new software variants and upgrading parts continuously. Retailers who have particular specialisms will be able to suggest particular features that will help them, and we will be able to work with people specialised in those areas to integrate their capability on the device.
Dominic Taylor: The three-in-one EPoS, card payments and PayPoint services – this platform isn’t just about EPoS, it’s about helping retailers drive value. It’s designed to be flexible. We will listen, and if retailers want a bell and whistle here or there, we will seek to provide that.
RN: Will there be an additional cost for new features?
DT: It depends on what the feature is and how bespoke it is. But we launched our pledge recently which states the principals on which we want to run our business and retailers can scrutinise us against. Core to that is driving value to retailers at a competitive price, so whatever we do will be based on that principle.
RN: How many terminals are you hoping to roll out by the end of the year?
TWR: We are rolling out more than 100 a week, so we’re talking about thousands.
RN: Why have you gone for a two-year contract for PayPoint One?
DT: Primarily from retailer feedback. We made a commitment to listen to retailers so we want to provide a much more flexible agreement. Retailers saw the five-year term as a burden, so we wanted to get rid of that perception and provide a more flexible arrangement where we can be judged on the value we bring.
RN: Has the company done enough to rebuild its relationship with retailers?
TWR: We’ve moved on in many ways. We have always said we’re about innovation. At the time of the disquiet, words weren’t enough to deal with the underlying issues. Actions are what make a difference, and we have taken a lot of actions in the last year and a half. I’m very proud of this launch because nobody else is investing multi-millions of pounds into convenience retail IT. We were also criticised for our communication and we’ve done a lot to make sure we are communicating better with retailers. I have no complacency about where PayPoint stands in retail. Every day we have to stand up and earn our stripes and make sure we’re delivering.
DT: We’ve come a long way in the right direction. We’re working very hard on our service and accessibility.
RN: Does the launch mark the start of a new focus for PayPoint?
TWR: We have always been about adding more, for example the parcels solutions we pioneered. We are trying to grow more successful and add more value to our retailers, so EPoS is another stage of doing that.
DT: Everyone has to evolve. Our business was founded on cash payments and it’s still a very significant part of our business, but the reality is consumers are doing things a different way and expect services to be presented differently, so we’re trying to help retailers and clients manage that through a much more integrated consumer-facing payments system.
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